The Benefits of Renewable Heating Solutions

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Dec. 17 (Bloomberg) -- David Rae, Chief Financial Officer at Innasol, discusses the fiscal benefits of renewable heating including government incentives for U.K. consumers. He speaks on Bloomberg Television's “The Pulse.” (Source: Bloomberg)

Heat, why is it important?

You are saving the earth and saving money, but you have to spend up front.

That is correct.

The right thing to talk about is why heat is so important.

Maybe some of the viewers don't know, over a percent of the energy that we use and the majority of heat we use in businesses is for heating.

We are not talking about electric, tv, wind, we're talking about heat pump solutions.

Today, what insol is doing is trying to -- about the renewable heat industry and raise awareness amongst consumers and businesses.

I have to spend up front.

How much do i have to spend?

The important thing to understand is that the running cost of renewable heating solutions are lower than what they are for fossil fuels area -- fossil fuels.

Wood pellets are cheaper then gas, which means they are a lot cheaper than lpg or oil.

For my home, i am putting a pellet system in.

I am 10% cheaper thean what the big six energy suppliers would charge me.

There are government schemes to support people that want to make the shift.

Memo that is to pay for the increased cuts in the cost to the system.

If you imagine, in regards to my property, it is a five bedroom detached in kent.

My system cost would be about 18,000 pounds.

That is a large amount.

I will be saving over 200 pounds a year by switching to a renewable heating solution.

I will be receiving roughly 3.5 thousand pounds from the government.

Who is eligible for that heat incentive sponsored by the government?

Any one that would like to install a renewable heating solution.

That is probably applicable for about just over half of the buildings and the u.k. a large force or people could benefit from a renewable heating solution.

1.6 million heating slip some -- heating systems are replaced each year, and most people don't know about the renault bowl heating solutions.

-- the renewable heating solutions.

Thank you for that.

David rae, there.

Cfo at innasol.

A second hour of the pulse is coming up.

Project runway, howard davies will be joining us.

He is wrapping up a press conference.

The rise of the selfie.

Bloomberg's businessweek's -- will be joining us.

You can follow us on twitter ,@guyjohnsontv,@flacqua.

This text has been automatically generated. It may not be 100% accurate.

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