{"id":8138,"date":"2019-10-10T13:00:01","date_gmt":"2019-10-10T12:00:01","guid":{"rendered":"https:\/\/www.networkportfolio.co.uk\/mcclarroninsurance.com\/?p=8138"},"modified":"2019-10-31T09:05:09","modified_gmt":"2019-10-31T09:05:09","slug":"provantage-procurement","status":"publish","type":"post","link":"https:\/\/www.networkportfolio.co.uk\/mcclarroninsurance.com\/news\/provantage-procurement\/","title":{"rendered":"How Ofgem\u2019s RHI Scheme is providing significant new income streams for customers"},"content":{"rendered":"\n

About ProVantage<\/strong><\/p>\n

ProVantage Procurement is a company of MCIPS qualified procurement specialists with over 100 years\u2019 experience in the NFP, Financial, Public Sector, Service and Manufacturing industries.<\/p>\n

We help clients reduce bottom line costs and improve their internal processes so that they can realise cost savings faster. The savings we make are always measurable and sustainable.<\/p>\n

Our experience shows that for most organisations there are always significant opportunities to make savings waiting to be unlocked but these can get missed through a lack of resource or relevant expertise. Our approach to cost reduction is to work with your key stakeholders to provide those resources for you, enabling you to see those savings.<\/p>\n

What is the RHI Scheme?<\/strong><\/p>\n

The Renewable Heat Incentive<\/strong> gives financial support to organisations who use certain renewable technologies to heat their homes. The payments are designed to incentivise adoption by creating additional income streams and profits.\u00a0 Government-funded & guaranteed, it aims to cut carbon emissions and help the UK meet renewable energy targets. Government has set aside around a further \u00a323 billion<\/u> to drive the scheme.<\/p>\n

How do RHI payments work?\u00a0 <\/strong><\/p>\n

After joining the RHI scheme, you receive a quarterly tariff payment for every kilowatt hour (kWh) of renewable heat you produce<\/u>. You get these payments for 20 years. The rate you get rises annually in line with CPI (Consumer Price Index).<\/p>\n

Air source heat pumps, ground source heat pumps<\/strong> and biomass boilers<\/strong> are all eligible to receive RHI payments.<\/p>\n

An air source heat pump<\/strong> is usually placed outdoors at the side or back of a property. It takes heat from the air and boosts it to a higher temperature using a heat pump. The pump needs electricity to run, but it uses less electrical energy than the heat it produces \u2013 and the heat produced receives the RHI payments for 20 years, guaranteed.<\/p>\n

A ground source heat pump<\/strong> system harnesses natural heat from underground by pumping water through it in pipes. The heat pump then increases the temperature, and the heat is used to provide heating and hot water.\u00a0 They need electricity to run, but again, they use less electrical energy than the heat they produce. The pump performs the same role as a boiler in a central heating system, but it uses ambient heat from the ground, rather than burning fuel to generate heat. The heat produced receives the RHI payments for 20 years, guaranteed.

Biomass boilers<\/strong> burn wood fuel in the form of pellets or chips to heat up the water in a connected buffer tank. Hot water from the buffer tank can then be fed to as many different locations as required. The heat is then transferred via heat exchangers connected into new or existing hot water and heating systems. Simplistically it’s one or two\u00a0boilers that replace multiple smaller standalone boilers that connect to the existing pipework infrastructure to all relevant buildings. The heat produced receives the RHI payments for 20 years, guaranteed.<\/p>\n

Almost \u00a31 billion has been received in RHI by customers to date.<\/p>\n

The key benefits that biomass brings:<\/p>\n