Did you know that you can achieve higher returns than most high interest accounts and high street investments by investing in renewables for your home? And the sooner you act the more you’ll achieve (even 6 to 8% pa!). And of course you’ll be reducing your carbon footprint in the process – a clear win:win. So read on…
Feed-In-Tariff
The UK Government introduces a ‘Feed In Tariff’ (FIT) early next year. This is the same type of scheme that has been in place throughout Europe and in parts of America for the last 5-years. It is an exciting proposition for a self-generator, for the following reasons:
1/ Feed In Tariffs are Government legislated and as such are compulsory across the Utility Industry (although of course Governments can change legislation in the longer term)
2/ The scheme will run for a long period of time eg, 25-years for PV (photo voltaic cells which generate electricity).
3/ You are paid a set amount for every unit of electricity you generate, even if you have used it for personal consumption! (the tariff varies by type of renewable, etc and the max is 36.5p per unit for PV)
4/ The unit price applicable when you join the scheme is set for the complete 25-year period.
5/ When you are not using the electricity, it is sent back to the grid and you are paid an additional rate of 5p per unit for the ‘overspill’.
Grants
There are grants available if you go via Government approved suppliers/fitters. The maximum amount of grant, regardless of system value, is £2500. The grant is not means related, and is still available at the time of writing, although it is to be phased out soon to make way for the FIT.
Low Carbon Lymm
Renewable Solutions, a NW based renewables company, have secured Manufacturer Support to varying levels on different technologies. This is due to the potential level of business that could be generated via the community scheme. You can contact mike@renewablesolutionsuk.com to find out more.
The Good Energy site www.generateyourown.co.uk also offers impartial advice, and their shop www.goodenergyshop.co.uk provides a route for purchasing and getting installed the relevant bits of kit if you’re more inclined to do your own thing.
The Future
In addition to a feed in tariff for energy apparently in 2011, the government intends to launch a similar thing for renewable heat. ( A bit like the Good Energy ‘HotRocs’ scheme launched last year.)
