Over the last five years however, certain lenders and companies have been redirecting their efforts to set up funding vehicles specifically for renewable technologies. There are many ways this can be achieved depending on the motivation and investment expectations.
At the moment it tends to be larger properties that would benefit most from the financial models on the market. The major defining factor for ascertaining potential project viability would be to ask “Would my installation be eligible for the non-domestic Renewable Heat Incentive scheme?”, if yes, then it is possible that lenders would be able to help you realise the investment you want. Typical funding options at the moment may offer between 6-9% on borrowing of the finances to fund the initial installation of the ground source heat pump or biomass boiler system.
Much of the finances rely on the installation being able to produce a large amount of energy and thus generating subsidy income sufficient enough to cover the repayments with interest. It could also be that a specific type of financial model could be applied to your project where-by the funder receives the RHI income and you enjoy the fuel savings. This can been compared to the solar photovoltaic rent-a-roof scheme.
isoenergy is able to help arrange a range of funding packages to suit larger installations where capital costs may be the prohibiting factor. There are certainly options out there for large domestic installations and commercial entities trying to implement a renewable energy scheme. It may be that the funds are not immediately available privately, but that it now not a limiting factor in green carbon reducing investments.
