The Boiler Upgrade Scheme is different to its predecessor, the Renewable Heat Incentive, as it offers a voucher to lower the cost of installing a heat pump. Provided your voucher is redeemed before it expires, the grant is paid into your account within a few weeks of your heat pump being MCS certified.
The RHI, in comparison, was a tariff based scheme that provided quarterly payments over 7 years based on the energy the system produces.
For many average sized homes looking to install an air source heat pump, the Boiler Upgrade Scheme is a strong incentive. You benefit from an initial saving of £5,000, rather than receiving a similar amount spread out over a 7 year period. It’s an instant saving that you benefit from immediately, which makes renewable heating more accessible.
For larger properties, and those looking to install a ground source heat pump, the return is likely to have been better with the RHI over time, but for many, the idea of a lump sum offered by the Boiler Upgrade Scheme is more appealing.