Impact of Spending Review and next steps on renewable energy - PowerPoint PPT Presentation

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Impact of Spending Review and next steps on renewable energy

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  1. Impact of Spending Review and next steps on renewable energy Rob Kinnaird Renewable Heat Incentive Team Department of Energy and Climate Change (DECC)

  2. Implications of Spending Review Good news for renewables!

  3. Renewable Heat Incentive • It’s going ahead • Includes solar thermal • Covers all sectors - householders, communities, public, commercial and industrial • Introduced in June 2011 • As part of SR have to make some cuts, amounting to 20% by 2014/15, still represents £850 million in investment • We remain committed to the ambition of moving from 1% to 12% renewable heat

  4. Renewable Heat Incentive: Next steps… • Now Spending Review agreed need to work through the detail of what this means for the policy and levels of support • Need to determine a lot of difficult policy and design issues • Expect to be in a position to announce the details of the scheme, including RHI tariffs and technologies supported, before the end of this year • We will engage with stakeholders over the next couple of months

  5. Feed-in Tariffs • Continues as it is • Reviewed in 2012, unless higher than expected deployment requires an early review • The Review of the level of support will be with a view to reducing projected costs in 2014/15 by at least £40 million, i.e. 10% to maximise value for money • Any changes at that point would not affect existing generators, only new entrants • Details of what would trigger an early review will be published soon