Renewable heating might not be affordable to everyone but when installed in the right properties, the potential savings on fuel along with Domestic RHI payments can make renewable heating systems an attractive investment.
The ‘Assignment of Rights’ agreement means that an investor can fund either part or all of the purchase / installation of a renewable heating system on behalf of a third party.
The property owner will make the application to the RHI scheme and then assign the rights to the Domestic RHI payments over to the investor. The property owner must remain the owner of the heating system and the investors cannot repossess it.
Both parties must make sure that they keep Ofgem aware of any changes to the system, any changes in ownership (should the property be sold) as well as when there may be a breakdown leaving the system not working.
For the full details of this scheme and how it works, you can visit:
- Open to applicants living in England, Scotland or Wales who own or live in a domestic property.
- Property owner must complete the application, but their nominated investor must then register with Ofgem.
- Investors must be a member of one of the following Consumer Codes:
- Once members, the investor may then apply to Ofgem to become a registered investor.
- It is only the investor who will receive RHI payments from Ofgem.