eco-incentive (plural eco-incentives)
An incentive (usually financial) to encourage a person or organization to follow a more eco-friendly policy.
There are a number of Government incentives available to consumers in both the domestic and non-domestic industries.
The Feed-in Tariff Scheme is the longest running incentive introduced by the Government in 2010. The FITs scheme was launched to encourage people to generate electricity from renewable sources such as solar PV (photovoltaic) and wind turbines. This scheme is open to both the domestic and non-domestic industries.
The Renewable Heat Incentive is a financial incentive scheme to encourage the uptake in renewable heat generation. The RHI commenced in November 2011 for the non-domestic industry and it is scheduled that the incentive scheme will launch in Summer 2013 for the domestic market.
The Renewable Heat Premium Payment Scheme (RHPP) is a Government scheme which is a one off payment to householders to help them buy renewbale heat technologies. The RHPP scheme is only available to the domestic market and this incentive is likely to make way for the domestic Renewable Heat Incentive next summer.
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