HeatRHight is a framework set up to help Registered Providers of Social Housing obtain up-front funding towards the purchase of heat pumps.
Exclusive to the Travis Perkins Group, the funding can provide between 40% and 100% of the installation costs of a retrofit heat pump project.
In effect, an up-front cash contribution with all repayments covered by the quarterly RHI payments, which are assigned to the funder.
RHI Funding is calculated per property using three criteria (the higher the better):
- Property annual heat demand in kWh (evidenced by EPC)
- RHI Tariff rates
- The designed performance of the heat pump
The scheme is predominantly for Air Source and Ground Source Heat Pump retrofit installations, however Ground Source Heat Pumps are applicable for some new developments where there is a shared loop system.
While this funding is ideal for replacing often costly systems using oil, electric or LPG, it can also be used on properties that are using gas.
- Significant cost reduction
- Repayments by RHI assignment
- Reduced tenant bills and fuel poverty
- Reduced CO2 emissions
- Replacing gas systems avoids cost and access issues for annual gas inspections
- RP has immediate ownership in full with no lease or licence over property
- Lender’s consent should not be required
- Legal advice on the structure has been taken from leading RP advisor, Trowers Hamlins Solicitors