brief explanation of solar thermal systems is presented, followed by a detailed description of the renewable heat incentives. A financial analysis is presented afterwards, analysing the impact of the RHI scheme to the applicants, in terms of payback period and average annual return on investment. This is based on installations of different sizes and at various levels of solar insolation. The analysis also presents the reduction of carbon dioxide emissions that could be achieved by installing a solar thermal system. From the financial analysis it has been found that the RHI scheme could generate moderate average annual returns on investment and ‘acceptable’ payback periods. As a result, it could increase the penetration of solar thermal systems in the UK. Significant
reductions of carbon dioxide emission can also be achieved by installing a solar thermal system on a building.
|Title of host publication||2012 IEEE International Conference in Power and Energy (PECon)|
|Number of pages||6|
|Publication status||Published - 2 Dec 2012|
- solar energy
- solar thermal system
- renewable heat incentive