| ID | 127280 |
| Title Proper | Financial analysis on the proposed renewable heat incentive for residential houses in the United Kingdom |
| Other Title Information | a case study on the solar thermal system |
| Language | ENG |
| Author | Bakar, Siti Hawa Abu ; Sukki, Firdaus Muhammad ; Iniguez, Roberto Ramirez ; Munir, Abu Bakar, Yasin, Siti Hajar Mohd, Mallick, Tapas Kumar, McLennan, Campbell, Rahim, Ruzairi Abdul |
| Publication | 2014. |
| Summary / Abstract (Note) | This short communication paper focuses on the renewable heat incentive (RHI) scheme in the United Kingdom (UK); and in particular, on its implication on domestic installations of solar thermal systems (STSs). First, a short review on the STS in the UK is provided. Then, a detailed description of the RHI is discussed. A financial analysis is presented afterwards, analysing the impact of the RHI scheme on the applicants, in terms of the net present value and the internal rate of return. From the financial analysis it has been found that the RHI scheme for domestic installations is only attractive if a longer period of RHI payment, i.e. 17 years, or a higher RHI rate i.e. £0.32 per kW h is implemented. The current proposal from the UK government is not financially viable, and as a result, it may hinder the penetration of domestic solar thermal systems in the residential sector in the UK. |
| `In' analytical Note | Energy Policy Vol.65, No. ; February 2014: p.552-561 |
| Journal Source | Energy Policy Vol.65, No. ; February 2014: p.552-561 |
| Key Words | Energy Policy ; Petro Power ; Energy Strategy ; Energy Planning ; Economic Interest ; Energy Crisis ; Petro Crisis ; Predictive Power ; Environmental Security ; Energy Saving Behavior ; Energy Building ; Thermal Power ; Thermal System ; Financial Analysis ; United Kingdom - UK ; Economic Measurement ; Economic Growth ; Public Policy ; Solar Energy ; Solar Thermal Power - STP |