40% of all RHI funding secured by single consultancy
40% of all funding so far allocated by the government-led Renewable Heat Incentive (RHI) scheme has been secured by a Cardiff-based consultancy, which is more than any other company across the UK.
Cardiff-based consultancy, which is more than any other company across the UK.
Sustainable Energy claims the funding will create an income of over £15m for business over the next 20 years.
Launched by the Department of Energy and Climate Change (DECC) on November 28 last year, the scheme was set in place to financially reward businesses for any heat produced via renewable technology.
Sustainable Energy Ltd managing director Gabriel Gallagher said: “The RHI scheme particularly strengthens the return on investment that can be expected; as well as offsetting the cost of fossil fuels and avoiding rising energy prices, a biomass system can now create a new income stream.
“This year we have helped companies of all sizes and from a diverse range of industries to secure RHI government funding, some of which we converted to biomass heating and others we submitted applications for based on existing systems.”
The UK has committed to decreasing its carbon emissions by 80% by 2050 and currently the production of heat and hot water using fossil fuels, such as oil and gas, accounts for about half of the current emissions.
According to DECC, as the first financial initiative of its kind to incentivise and subsidise low-carbon heating, the RHI could reduce carbon dioxide by 44 million tonnes over the next decade.
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