Green energy producers rewarded
The REFIT scheme guarantees green electricity producers payment for their energy. Under the proposals, a range of minimum prices have been established and they are guaranteed for 15 years.
Through REFIT, energy providers, from farmers to larger companies, can negotiate with any electricity supplier. But a range of base prices have been set for different types of renewable energy. 11c/kWhr is available for electricity projects, while combined heat and power projects will get 15c/kWhr.
According to the Department of Energy, the additional REFIT capacity will have the ability to supply the electricity needs of 260,000 homes and prevent the emission of over 1m tonnes of polluting greenhouse gases annually.
Most of the new energy is expected to come from wind projects, however, it also applies to smaller biomass and hydro projects.