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Is Financial Support Still Available for Renewable Energy Investment?

  • Publish Date: Posted about 7 years ago

Much has been made of the government's decision to withdraw financial support and subsidies for renewable energy by cancelling many of the benefits open to domestic customers and commercial developers alike. However, there are still some ways to access financial help.

Firstly, Scotland's Home Energy Loan Scheme offers interest-free loans for customers wanting to invest in renewables. Customers will also be pleased to hear that the domestic Feed-In Tariffs (FiTs) and the Renewable Heat Incentive (RHI) is still open and available.

Different Schemes to Access

Some means-tested support is also available in some circumstances through the Warmer Homes Scotland initiative and ECO. Each scheme has different availability criteria, but most will encompass the main renewable energy technologies, such as solar PV and solar thermal, water source heat pumps, ground source heat pumps, wood-fuelled stoves and boilers, wind turbines, micro hydro schemes and micro CHP schemes.

It can be possible for some applications to receive funding from more than one scheme to help with the installation costs. For example, a renewable heating scheme could be funded initially with an interest-free loan and then the repayments could be partially met with the income from the Feed-in Tariffs payments from the excess energy fed back into the grid. 

Where to Get Help

Certain efficiency measures do need to be assessed and then installed before some of these sources of financial support can be claimed, and the Energy Savings Trust is a good place to start to find more information. They will link homeowners up with qualified and approved microgeneration installers to help make an assessment about which technology could be best for their needs and what sources of financial help may be available to help with the installation costs.