Carbon neutral heating systems will play a fundamental part in helping the UK achieve its net zero carbon target by 2050.
The UK government’s road to net zero highlights the ambition to phase out gas and oil fuelled heating systems and replace these with alternative low carbon solutions. These heating solutions will include air and ground source heat pumps as well as district heating networks.
Significant investment is required to accelerate this shift and Horizon Energy Ventures is strategically placed to support the cost of the transition.
We provide innovative financing options that allow both domestic and commercial customers to install these low carbon heating technologies in an economically sustainable way.
To achieve this, we work with partners to take our funding solutions to market. Our partners include heat pump installers & manufacturers, energy suppliers, housing developers and social housing providers.
Through this multi million pound purchase, Horizon now has assignment rights* to over 5% of all RSL heat pumps** that were accredited and installed post the start of the UK Government’s Domestic Renewable Heat Incentive (DRHI) scheme, which closed to new applicants on 31 March 2022.
If you’re interested in developing funded options as part of your decarbonised heat solutions, please get in touch.
*This financing mechanism through OFGEM’s Domestic approved Assignment of Rights contract, entitles the approved investor of each asset to collect the associated income from the DRHI for 7 years post accredited installation.
** based on volume of non-legacy heat pumps accredited through RHI (2014 to end of Jan 22) (sources: OFGEM DHRI Annual Report 20-21 Data Sheet Fig 1.11 and DHRI Quarterly Report Issue 31 p.6)