Siti Hawa Abu-Bakarab
Financial analysis on the proposed renewable heat incentive for residential houses in the United Kingdom: A case study on the solar thermal system
Abu-Bakarab, Siti Hawa; Muhammad-Sukki, Firdaus; Ramirez-Iniguez, Roberto; Munir, Abu Bakar; Yasin, Siti Hajar Mohd; Mallick, Tapas Kumar; McLennan, Campbell; Rahim, Ruzairi Abdul
Authors
Dr Firdaus Muhammad Sukki F.MuhammadSukki@napier.ac.uk
Lecturer
Roberto Ramirez-Iniguez
Abu Bakar Munir
Siti Hajar Mohd Yasin
Tapas Kumar Mallick
Campbell McLennan
Ruzairi Abdul Rahim
Abstract
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.
Journal Article Type | Article |
---|---|
Acceptance Date | Oct 7, 2013 |
Online Publication Date | Oct 25, 2013 |
Publication Date | 2014-02 |
Deposit Date | Dec 2, 2020 |
Journal | Energy policy |
Print ISSN | 0301-4215 |
Publisher | Elsevier |
Peer Reviewed | Peer Reviewed |
Volume | 65 |
Pages | 552-561 |
DOI | https://doi.org/10.1016/j.enpol.2013.10.018 |
Keywords | Solar energy, Solar thermal system, Renewable heat incentive |
Public URL | http://researchrepository.napier.ac.uk/Output/2703484 |
Publisher URL | https://doi.org/10.1016/j.enpol.2013.10.018 |
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