EIGHT REASONS TO GO RENEWABLE TECHNOLOGY
The new legislation of the UK coalition government reaffirms the incentives for the early adoption of new and improved renewable technology. The market is moving rapidly and, in response, prices have fallen significantly. Here are some reasons to be one of the first to boost renewable energy;
You Can Earn Money
In the United Kingdom, you can have a photovoltaic solar system or a wind turbine system connected to National Grid and receive a payment for exporting your energy at a much higher rate than the actual market value (currently 44.3 per kWh for photovoltaic solar energy). This is guaranteed for 25 years if you connect before the 2017 DECC expense review. However, the cut-off point for this high rate may come earlier if the adoption is much higher than expected.
Once you have this higher rate, you are guaranteed that the rate will increase in line with current increases in the price of energy over the next 25 years.
If you join after this point, the tariff rate of reduction or “degression”, as it is known, will be approximately 6-8% per year as of 2017 according to LowCarbonEconomy.com.
The rates available for other renewable sources will also apply, such as heat pumps from 2016. Currently and until then, there is a subsidy system to subsidize them.
Recovery Periods Are Shortening
As noted above, the current fee feeding scheme, renewed by the recent “Green Deal” of the UK government coalition, is designed to encourage acceptance by offering this subsidy.
When the feeding fee was first introduced in early 2013, the recovery of the investment would have taken between 10 and 15 years, due to the expensive systems available. In this short space of time, we have seen an increase in competition in the UK market, where amortization has been reduced to just 7 years for small and large photovoltaic solar energy. The competition is already warming up with the big players that enter the market, which often do not provide the best service / value.
The investment recovery for wind turbines can be as low as 3-5 years and can pay very large amounts with the correct systems, although there is a greater amount of maintenance and potential risk of failure with current wind turbine systems.
Other renewable technologies that will be included in the government’s Renewable Heat Incentive (RHI) scheme in 2016 include solar hot water, geo, earth and air source heat pumps. The government is even considering including other alternative sources in a feed rate, such as the start-up of old water mills and other sources.
You Can Save Money
Without including any type of food in the rates, you can reduce your bills anywhere between £ 100 to £ 700 per year at current energy prices for photovoltaic solar energy, solar thermal or heat pumps. The savings for larger or industrial properties can be even greater if there is a good source of wind or space for a larger rooftop on / off solar system.
If you don’t have the money but have the right roof, (south facing) there is still a good option available; use a free solar photovoltaic installer that will keep the power fee for yourself, but you will get your bill savings. Usually, the system is yours to maintain and collect the fee for yourself after 25 years. You can even buy the system again before the end of the 25-year contract, depending on the company.
Increase in Property Value
You can increase the value of your properties by installing renewable technology. A 25-year government-backed guarantee of an income of around one thousand pounds per year (current energy prices of a 3KW photovoltaic solar system) is a great additional incentive to buy a property. It will add as much value or maybe even more than the actual cost of installing the system. Especially if you are looking for budgets. Making it a viable option to add the cost of the system to your existing mortgage through reorganization.
In addition, free facilities, where you only benefit from savings, can still add value to your property. Even if he doesn’t live there and is renting the property. It would increase at least as much as the amount saved during the rest of the 25 years or the expected life. You may want to make a similar joint venture with your tenant.
You Help the Development of The Global Renewable Industry
One of the reasons why you are guaranteed the power fee for photovoltaic solar panels, wind turbines and soon others, is to help the growth of the renewable energy industry. Yes, this means that there will be new and more efficient technologies in the future (when the industry has grown), but at that point, there will be no such high-rate feed rates available, while yours will be guaranteed at the highest rate.
Our local / global renewable industry and infrastructure needs massive growth to meet future demand. The shortage is good for energy companies because that amounts to higher prices. But is this an attitude that should be taken when it comes to sustainability?
Renewable Energy Is Safe
Safety is a big problem and we are increasingly dependent on our fossil fuel supplies from abroad. It will help our local energy structure grow and become less dependent on the decline in external supplies. Fossil fuels, by their very nature, are finite resources, which means that long-term future sustainability is not an option.
Renewable Energy Is Reliable and Abundant
For photovoltaic solar energy, whenever there is light, electricity will be produced. Technology levels have increased in photovoltaic solar panels and substantial amounts of energy can now be produced even in cloudy conditions like in the United Kingdom.
Solar thermal, earth / air / geo heat pumps also make a surprisingly large contribution to their heat demands, even in the cold winters of the United Kingdom.
The installation of renewable energy in your home or property will decrease the amount of carbon and other chemicals and toxins released during the generation of energy from fossil fuels and nuclear energy.
The amount of energy produced in the life of renewable products will greatly exceed the energy used to produce them. In addition, the elements used to make solar photovoltaic cells such as common metals, silicon and aluminum are abundant and recyclable.