The Chancellor of the Exchequer delivered his spending review on Wednesday, which was much awaited in the industry, as it contained information about the future of the Renewable Heat Incentive. Here is what it said :
“The Government will increase funding for the Renewable Heat Incentive to £1.5 billion in 2021, to ensure that the UK continues to make progress towards its climate goals, while reforming the scheme to improve value for money, delivering savings of almost £700 million by 2020-21.”
Below is a table of how the year on year budget will look moving forward. As soon as we have any information on the scheme reforms, we will of course let you know.