2014 Report details for project: Renewable Heat Incentive
| Project name | Renewable Heat Incentive - there are 3 reports for this project: 2013, 2014, 2015 |
|---|---|
| Google search | Google search on project name (opens in new window)  |
| Contracts | Contracts search (opens in new window) - under development |
| Organisation | DECC (D11) - see all reports for this organisation |
| Report year | 2014 (data is from September 2013) |
| Category | Transformation - see all reports for this category |
| Description: | The rationale for the RHI is to help meet the Governments renewables target which requires 15% of energy to be sourced from renewable sources by 2020 in a cost-effective way and to help lower carbon emissions. The Renewable Energy Strategy published in 2009 suggests that a 12% contribution to achieving the target could come from the heat sector. The Renewable Heat Incentive provides financial support to renewable heat generators and producers of biomethane that is designed to help address the additional cost associated with renewable technologies, in order to incentivise their take up. For more information, see: https://www.gov.uk/government/policies/increasing-the-use-of-low-carbon-technologies/supporting-pages/renewable-heat-incentive-rhi |
| DCA (RAG) | Amber |
| DCA text: | The Amber rating reflects the publication of domestic RHI policy in July 2013 and good progress made on improving the project management of the project. |
| Start date | 2008-11-30 |
| End date | 2014-09-10 |
| Schedule text | The start date reflects Royal Assent to the Energy Act 2008, which includes the legal powers that underpin the RHI. DECC expects to open the domestic RHI for applications and implement the extensions to the non-domestic scheme in Spring 2014. The project end date allows for a post-implementation phase and will be reviewed in mid-2014. |
| Baseline | £219.00m |
| Forecast | £80.10m |
| Variance | -63.42% |
| Variance text: | Current deployment is lower than budgeted for as a result of low deployment of some technologies, delays to the development of the scheme and over-estimates in initial modelling that informed budget profiles before scheme launch. Expenditure estimates for this year are based on current stock and expected flow for the remaining 6 months, using market intelligence forecasts. |
| Whole Life Cost | £48,261.80m |
| WLCost text: | RHI budgets are only set up to 2015/16 so whole lifetime costs (which run to 2040) are illustrative only and assume 30% annual deployment growth up to 2020. This reflects: the introduction of a domestic scheme; increases in tariffs for poor performing non-domestic technologies; and several additional technologies being added to the non-domestic scheme. As RHI cost estimates run to 2040 inflation estimates have a very large impact. |
| Notes1: | |
| Notes2: | |
| Sourcefile | IPA_2014.csv |
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Acknowledgement: GMPP data has been re-used under the Open Government Licence.