Ground source heat pump subsidies

[Borlace1]

Hi guys,

Is it common knowledge that, if you use or need a heat supply to dry your crops or provide heat to your poultry or pigs etc., you are able to get a free cash subsidy if you were to use a Ground Source Heat Pump System?

And you if you already have one installed, you can raise cash against it?

Interested to hear everyone's thoughts!

 

[akaPABLO01]

Hi guys,

Is it common knowledge that, if you use or need a heat supply to dry your crops or provide heat to your poultry or pigs etc., you are able to get a free cash subsidy if you were to use a Ground Source Heat Pump System?

And you if you already have one installed, you can raise cash against it?

Interested to hear everyone's thoughts!

There are a lot of bases to cover in completely explaining what you are asking.

Firstly, it’s a subsidy you receive quarterly

So for example; you got to the bank and want £150k

You want it over say 12 years repayment

You tell them you are installing a gshp, they ask what denomination do you want your notes to be in.

The size of your heat pump dictates how much of tier 1 you get before entering tier 2

So, you want 100kW gshp, cascade or 1 unit. The sums add like this;
100kW x 1314 = 131,400

Tier 1 is about 9.8p

131,400 x 9.8p = £12,877 after you use up tier 1 you go to tier 2 something like 2.9p

You receive the £12k mostly over and after winter.

You have to stump up the whole cost first, if houses are included these are paid by epc value.

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If you have 1 installed you have 12 months after commission to apply for rhi subsidy. If this lapses you cannot apply. There was a “legacy” program you could apply for. A fella I registered back in.....Jesus, 2011?? Managed to get £120k from 30k investment but that’s irrelevant in you question. Legacy has been stopped for many years.

Definitely look into it, get some prices as rhi will eventually close like fit.