an air-source heatpump (the most affordable technology under the RHI) with the very same funding for boiler replacements.
The 5000 would cover RHI payments for a typical 3-bedroom semi-detached property based on a 7-year repayment. The upfront cost to the homeowner would be around 7000, and average yearly heating bill would enhance by 564 to 1453. Carbon emissions would be lowered by 3.49 t a year.
The same 5000 financing could help 12 families update old boilers through a 400 cashback boiler replacement program. The upfront expense to each house owner would be about 1600 a new boiler costs about 2000. The typical yearly heating costs would fall by 158 to 731, based upon the existing average cost of heating oil.
More significantly, the cumulative carbon cost savings for all 12 homes would be 19.56 t a year a better than 5-fold enhancement.
Jeremy Hawksley, director general of OFTEC, says, It s tough to neglect the engaging argument for a nationwide boiler-replacement scheme that our research supplies. By continuing to fund the flagging RHI and overlooking boiler replacement, the Government is surrendering the opportunity to save 16.07 t of emissions for each 5000 of expenditure.
The UK requires carbon-reduction and energy-efficiency schemes that will make a definitive change. Our company believes that lots of resident would purchase into the idea of bringing forward their boiler replacement because it would lower their heating expenses.