Smart Export Guarantee (SEG)
The Smart Export Guarantee (SEG) is the current financial incentive supporting small-scale, local low-carbon energy generation. This replaced the Feed-in-Tariff (FiT) on the 1st of January 2020. The greatest change between the two schemes is Central Government no longer determines the rates of exporting electricity, individual providers do.
If you are interested in installing renewable energy at home or office and hoping to make the most of its potential financial returns, check with your provider for their SEG rate. Currently, rates range from 3-5.6p/kWh. It is worth noting the average cost of electricity is about 14 p/kWh, making consuming your sustainably source energy more lucrative than exporting back to the grid. Find out more on the Ofgem website (external link).
MCS and RHI
The Renewable Heat Initiative (RHI) is a scheme aimed at promoting the use of renewable heat technologies. There are two different schemes for domestic and non-domestic projects, with varying requirements. For domestic RHI projects, successful systems will receive quarterly payments for seven years based on a variety of factors. Technologies eligible for the domestic RHI include, but are not limited to: biomass boilers, solar thermal, and heat pumps.
The Micro-Certification Scheme (MCS) is an internationally recognised quality insurance scheme, which is required for any domestic technologies benefitting from the Renewable Heat Incentive (RHI). When completing an application for RHI payments, one’s MCS certificate will be required to prove the heating system meets necessary standards. This is because MCS is currently the only certification body that is approved by the BEIS for Domestic RHI scheme.
See how the RHI could work for you (external link).
Last Updated on Tuesday, October 27, 2020