PTS and City Plumbing Supplies are launching a new funding framework at Ecobuild for renewable heating, which could result in a substantial surge in work for contractors from social housing providers.
The innovative HeatRHIght scheme gives social housing providers an upfront lump sum that contributes to the capital cost of retrofitting air and ground source heat pumps.
With more than four million social homes across the UK, HeatRHIght introduces significant new opportunities for skilled installers by removing financial barriers that have historically prevented registered providers from investing in renewable heating.
The scheme works by trading seven years of government-funded Renewable Heat Incentive (RHI) payments for an upfront lump sum. The size of any payment will depend on the technology used and heat demand required, but will typically provide between 40 and 100% of installation costs.
“We know social housing providers want effective, sustainable heating, but they don’t always have the capital they need. HeatRHIght solves that problem. With funding available upfront, clients can commission retrofit projects with confidence, which will introduce a whole new level of demand for renewables installers.”
Andrew Harrison, Deputy CEO Plumbing & Heating Division
Article credit: https://www.hpmmag.com/news/new-renewables-funding-framework-unlock-work-windfall
