The Domestic version of the Renewable Heat Incentive (RHI) means that these payments are available for biomass boilers in houses. This appears to be particularly attractive for badly insulated old properties like Farm Houses.
The domestic RHI payment is based on the estimated heat load of the property rather than the meter reading. It is paid over 7 years and is tax free for domestic installations.
I have seen a number of projections for Farm House biomass boiler installations and the RHI payments make the proposition appear very financially attractive. We will not know for definite for a while – unfortunately we don’t know how long the RHI scheme will be available either! My feeling is that if you are looking to renew your heating system it is definitely worth considering this as one of the options.
Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.