The proposed Renewable Heat incentive is an investment. After the capital outlay there would be regular payments for 15 years that estimate a 12 percent return. This would be attractive to landlords who are landlords because they are looking for a good return - perhaps this is attractive. If they do invest the benefits are the tenants who would then get cheaper fuel as a result. Wood pellets are currently cheaper than gas and oil.
Some local councils have teamed up with affordable loan companies to provide loans for sustainable developments. For example Wessex Home improvement loans target the older and less well off and cover a variety of local counties to Wiltshire.
For those who have some equity in their mortgages then this also represents an investment opportunity where the payback on an increased mortgage may be covered by the incentive payments.This is probably the cheapest way of purchasing unless the "green deal" and green investment bank also loans to those wanting renewable technologies.
What is discouraging is that in rural areas the older may well be having their winter fuel allowance cut. Oil prices may well rise. If there is no alternative then they will just have to put up with increased prices.
Whilst distribution of wealth is rarely perfect the Renewable Heat incentive and the Feed in Tariff does give alternatives for all those in accommodation that is appropriate. It is, however, opportunity focussed, ie those people must seek the information and want to do something about their energy needs.
2 comments:
Sexy things these boilers. When Roger first talked about these biomass boilers I had a theoretical interest. When he showed me the brochure my interest was raised significantly. The power of advertising is a powerful thing.
If I were building a new house or moving to one that needed some refurbishment I would seriously consider biomass. Roger has taken me through the figures and they appear to work well.
I wonder if you remove the feed in tariff incentive if people would still be interested in green energy (biomass, solar, or otherwise). I mean, I hope we reach a point wherein the cost savings against electricity bill would be motivation enough to adopt renewable energy.
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