Increased funding for the Renewable Heat Incentive (RHI) Announced…
The government announced on the 25th November 2015 their plans to increase funding for the RHI from 2016 to 2021.
It will mean that by 2021 an additional £1.15 billion will have been spent on the RHI scheme, while reforming the scheme to deliver better value for money.
Announcing the plans in the Autumn Statement and Spending Review, Chancellor George Osborne said the increase in funding would ensure that the UK continues to progress towards its climate goals while reforming the Renewable Heat Incentive scheme to improve value for money, delivering savings of almost £700 million by 2020-21.
Whilst we are optimistic about the news on increased funding, we are keen to learn more on plans to reform the RHI scheme and what it will actually mean.
We will endeavour to keep you updated.
Renewable Heat Incentive Planned Funding
| £ million | 2015-16 | 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 |
| Renewable Heat Incentive: capping costs and improving value for money | 0 | +30 | +100 | +245 | +460 | +690 |
Need help with your RHI Application?
Find out more about how TEAM can help your organisation apply for the RHI scheme here.