If you have or thinking about, a renewable energy system for your home that generates electricity you can benefit from the Northern Ireland Renewables Obligation Certificates (NIROC).Changes have been made to the the grant in which installations after the 30th of September will now receive 3 NIROC'S at a rate of £0.1224.
Below are the NIROC rates for 2015/2016 and typical income earnings:
(16 NO. 250W Panels)
(48 No. 250W Panels)
(200 No. 250W Panels)
|Indicative Cost - Design, Installation & Commission||£5,950 inc VAT||£12,750 inc VAT||£52,000|
|Expected Yield||3,385 units||10,140 units||42,300 units|
(4x NIROCs) guaranteed for 20 years
|3.385 x £0.1224=£415||10,140 x £0.1224=£1,224||42,300 x £0.1224=£5,288|
(80% of generated solar electricity consumed)
|2,708 x £0.17=£460||8,112 x £0.17=£1,380||38,070 x £0.17=£6,472|
|Export income + savings on oil|
(20% of generated solar electricity exported)
1523 x £0.051=£77 + £120 saving on oil
|4,563 x £0.051=£233 +£150 saving on oil||4,230 x £0.051=£215|
|Combined income & savings per year||£1072||£3,003||£11,975|
|Payback period||5.5 years||4.25 years||4 years|
|Return on investment||18%||24%||24.7%|
|20 year returns||£21,440||£60,060||£239,500|
See our grant information page for more details.
If you require help or assistance regarding grant applications or taking the first step towards generating an income from generating electricity, call our team on +44(0)2877778177.