The Renewable Heat Incentive (RHI) has a budget of around £25 million up to 2015 and will provide long term financial support for non-domestic properties wishing to switch from conventional heating to renewable heating solutions, such as biomass; heat pumps and solar thermal.
Payments will be made quarterly and for the lifetime of the installation (maximum 20 years) and will be determined by the heat output of the installation and the relevant tariff set by DETI.
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Commenting on the launch of the scheme the Minister said: "The RHI is a ground-breaking scheme for Northern Ireland. It will help support our aim of increasing levels of renewable heating to 10% by 2020 by supporting over 20,000 new installations.
"Now that it is in place, local businesses, and other non-domestic properties, can take advantage of the incentives for using renewable heating solutions and should see a return on their investment.
"The development of this market will have real benefits for Northern Ireland’s energy security by reducing dependence on fossil fuels. The sector also has the potential for new jobs and industries."
The scheme is open to all non-domestic properties and will support installations commissioned since 1 September 2010. The scheme will be administered by the GB energy regulator, Ofgem.
The Minister continued: "My Department is committed to seeking ways to support consumers in these times of higher energy prices. The RHI bridges the gap in costs that currently exist between renewables and fossil fuels and therefore will create a new choice for those wishing to better manage their energy bills."
(CD/GK)
