The Renewable Heat Incentive (RHI) rate is going to be reduced yet again for new applicants from midnight 30th September. The reduction has been confirmed at 10% this time.
A further rate reduction will come into force on 1st January 2015, which will be at least 10%, but is more likely to be 20%.
It’s a shame, but it had to come eventually. On the upside, the rate will still give something like an 18% return on capital, which is quite a bit better than you would get on your savings in the bank.