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21/04/10
Take advantage of Feed inTariff renewable energy payments
Take advantage of feed-in tariffs, a new Government scheme designed to benefit businesses across the UK with financial and environmental rewards.
The scheme, which will launch on 1 April 2010, will enable businesses installing small-scale renewable energy generating technologies such as wind turbines, to claim payments for the electricity they produce whilst at the same time benefiting from reduced energy bills.
The tariff levels have been calculated to offer a 5% to 8% return on initial investment in the technology. In addition, electricity produced that is surplus to requirements can be sold back to the grid, producing another revenue stream. The government is guaranteeing these payments for up to 20 years depending on the technology.
The Renewable Energy Association's (REA), says the schemes guarantee payments for renewable energy generated over a period of 10-25 years. Furthermore, with low interest rates in UK banks, R-E-A points out that the 5-8% returns under the feed-in tariffs "offer a better investment than leaving the money in the bank."
The BWEA, the UK's leading renewable energy trade association, hailed today's publication of feed-in tariff payment rates as a further step in the 'green energy revolution' changing the way electricity is generated and used in Britain.
The Association calculates that the feed in tariff could deliver over £10,000 of annual benefits to an owner of an 11kW small wind turbine in a location with good wind speeds. The range of tariff levels is such that it encourages all levels of investment, from householders and farmers to small and medium sized businesses. Wind energy is set to get from 4.5 pence to 34.5 pence per kilowatt hour, making wind turbines an attractive proposition for everyone with a good location.
In two examples, the Association has highlighted that an 11kW device with an installation cost of around £44,000 at site with a wind speed of around 5 meters per second could yield a total income of £10,026 per annum.
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