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Farmers flock to invest in renewable energy schemes
An increasing number of farmers are embracing renewable energy schemes with a potential return on investment of more than 10%.
With income for farmers dropping as commodity prices have plummeted, the farming community has been forced to look for new ways to make money. Consequently, there has been a massive surge in interest among the UK’s farmers since the Government introduced Feed in Tariffs (FITs). Even changes brought in earlier this year have made little impact on farmers as most of the schemes under consideration are small and medium sized and well below the 50kW mark identified by the Government for proposed cuts in tariffs available.
With returns of 10% or more on investment, installing some form of renewable energy generation – most commonly solar panels or wind turbines – is seen as a secure investment by the farming community.
Across the UK, more than a third of farmers are believed to be considering investing in renewable energy schemes.
Eco Environments, one of the UK’s leading renewable energy providers, says interest from farmers has “gone through the roof” in the past six months. The company’s director David Hunt, says: “The interest from the farming community in the past six months has been phenomenal. We are currently speaking to dozens of farmers in England and Wales who have either given the go ahead to a renewable energy project or are seriously considering one. Renewable energy for farms is one of the fastest growing areas of our business.”
The average barn roof could generate as much as £5,000 of income a year if electricity-generating solar panels are installed. Larger field-based projects of 50kwp have the potential to generate income/savings of more than £15,000 a year.
Drive around Europe, particularly Germany, Spain and Italy, and you will readily see how farmers on the Continent have been actively installing renewable energy schemes to help bring them new income streams.
More information: www.eco-environments.co.uk
