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In Britain, renewable energies are getting a big endorsement from the government-known as the Renewable Heat Incentive (RHI), the program will have £860 million at its disposal. This money will be used to pay businesses who opt to use renewable heat. The RHI is predicted to impact the UK economy in a big way, with a potential creation of 500,000 jobs. Furthermore, as a result of the RHI, carbon emissions are predicted to be cut by 43 million tons by 2020.
Greg Barker, the climate minister discussed governmental hopes of 14,000 industrial installations, and ultimately 112,000 installations by 2020. Greg Barker also said, “The RHI will usher in a new era in clean green heat technology…It’s a world first and has the potential to put the UK at the forefront of a vibrant new green technology sector.”
Barker continued, saying, “Renewable heat will be a big win for our economy – it will support thousands of green jobs, reduce our dependency on imported fossil fuels reduce our carbon emissions and help us meet our renewable target.” The RHI scheme will initially only be open to businesses, but may eventually expand to the domestic sector.
Another key figure is Gaynor Hartnell-she’s the chief exec at the Renewable Energy Association, and calls the RHI implementation “excellent and very long-awaited news”. She elaborates that “It’s high time the UK started benefiting from a major roll out of some of the cheapest forms of renewable energy…It’s not a perfect policy yet, but we look forward to working with DECC and [Ofgem] to help it bring out the best in British renewables.”
The RHI applications officially will launch next week, enabling businesses to cash out on renewable heat tech, like biomass boilers, and solar thermal equipment (these aren’t things one would casually have stashed behind their garage door). So long as the equipment has been installed since July 15, 2009, they will qualify, and businesses will be able to earn various amounts according to which technology they employ.
Biomass boilers will fetch 7.9 pence per kilowatt hour, whereas solar thermal equipment will earn 8.5 pence per kilowatt hour. Regardless, more and more businesses will be sure ot latch onto renewable energy as a means of turning profit and doing right by the environment. What are your thoughts on the RHI initiative? Is it something you would hope to see in the United States?
Source: BusinessGreen.com
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