Rural Energy’s online tool for RHI calculations
Rural Energy offers an online tool to calculate the expected return for projects qualifying for the non-domestic Renewable Heat Incentive. It provides a quick reference guide to expected savings and payback periods, as well as estimating the cumulative cash flow throughout the RHI period.
The calculator enables users to select the size of boiler, expected usage level, the fuel type (wood chips or pellets) and the current fuel (gas, oil, LPG or electricity). The cost of the project is also selected using a slider tab.
This information is used to estimate the payback period, the net cash benefit over 20 years and the internal rate of return.
Paul Clark, managing director at Rural Energy, commented, ‘We were pleased to welcome the news that the RHI is set to continue beyond its initial end date of March 2016, which was announced in Chancellor George Osborne’s Comprehensive Spending Review at the end of last year. The RHI makes accessing biomass energy simpler and more affordable for a wide variety of large-scale applications, but it’s not always immediately clear what the cost implications and savings might be.
‘Our aim with the RHI calculator was to create a handy reference tool that could give a quick insight into these questions.’