Renewable Heat Incentive (RHI) to close in Northern Ireland
Proposal to close Northern Ireland Renewable Heat Incentive (RHI) scheme has been announced.
Enterprise, Trade and Investment Minister, Jonathan Bell has announced his intention to close the domestic and non domestic Renewable Heat Incentive (RHI) scheme.
RHI was launched to the non domestic sector in November 2012 and extended to the domestic sector in December 2014.
Commenting on his decision the Minister said:
"It is with great reluctance that I have had to announce my intention to close both RHI schemes. Both schemes have been very successful with the non domestic scheme in particular seeing significant uptake during the last 12 months and more so in the run up to the recent scheme changes introduced in November 2015. It is estimated that around 6% of NI's heating needs are now provided through renewable technologies. The Executive's target to achieve 4% renewable heat has been exceeded."
"However, this increased demand means the available budget for new applications has been exhausted. To meet RHI commitments for existing installations, significant levels of additional funding will have to be found from within the NI executive's budget for the next 5 years to address the current deficit. To prevent further overspend I must bring forward legislation to the Assembly to close both schemes to new applications."
"My Department will also be carrying out a comprehensive review and audit, to ensure that the operation of the schemes is strictly in compliance with the scheme requirements and the underpinning legislation."
If you are currently considering investment in renewable energy and feel you may be impacted by these changes, please contact Ruairi McGarry to discuss your options.
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