Subscribe free to our newsletters via your
. Energy News .




ENERGY NEWS
Upward trend in energy costs encourages consumers to invest in renewable energy
by Staff Writers
London, UK (SPX) May 16, 2012


File image.

Homeowners are increasingly turning to renewable energy options in the face of the upward trend in energy prices. The interest in solar PV, energy efficient lighting, heat pumps and other forms of renewable technology coincides with the latest warning from Centrica - the owner of British Gas - that rising wholesale gas costs will make supplying energy to UK households more expensive this year.

Although British Gas announced a 5% cut in the standard electricity tariff in January, it followed a whopping 16% rise in electricity prices and 18% rise in gas prices for British Gas customers in August 2011.

David Hunt, a director with leading renewable energy company Eco Environments, said: "Although there is the occasional small price drop, the trend in energy costs is very definitely upwards. As a result, we are seeing an increasing number of homeowners and business owners looking to address their energy costs. The summer months are the best time to do this in order to avoid nasty shocks when the winter bills arrive.

"One of the most popular options at the moment is low energy lighting but there are a range of renewable energy technologies that people can harness to ensure drastic reductions in energy costs."

Mr Hunt said that his firm was seeing a surge in activity from consumers wanting to cash in on the Government's feed-in-tariff incentives for solar panels before they are slashed again on July 1.

As of July 1, the Government is slashing the feed-in-tariff subsidies available for domestic schemes of less than 4kW from the current 21p to an expected rate of 15.7p. It may even be as low as 13.6p.

Under the present FIT rate, the return on investment is more than 10 per cent and is index linked and tax free, fixed and guaranteed for 25 years.

However, when the rate reduces to 15.7p - or the 13.6p rate if deployment in March and April is between 150 and 200MW - the potential return on investment will drop to between 4 and 6 per cent.

Mr Hunt added: "This is the final chance for consumers to secure a fantastic return on investment if they go ahead with a solar PV installation before July 1.

"After this date, the FIT rate will drop dramatically to 15.7p and potentially lower still, which will make a domestic solar PV scheme appealing only to the really green investors rather than those who are coming at it mainly for the eye-watering financial returns. This truly is the end of the domestic solar PV market as we know it."

Last year, the feed-in-tariff rate for domestic schemes under 4kW was slashed from 43.3p to 21p and, should the new rate fall as low as 13.6p this would amount to a 68 per cent fall in the rate since December. The rates are due to reduce further still in October this year.

.


Related Links
Eco Environments







Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





ENERGY NEWS
ADB sells $339 million 'clean energy' bonds
Manila (AFP) May 16, 2012
The Asian Development Bank said Wednesday it had sold $339 million worth of bonds to help fund investment in more environmentally-friendly power projects in the region. The three- to four-year bonds, which are denominated in Australian dollar, Brazilian real, and Turkish lira, were sold to Japanese retail investors, the Manila-based lender said. "Asia needs to meet its growing energy nee ... read more


ENERGY NEWS
Upward trend in energy costs encourages consumers to invest in renewable energy

ADB sells $339 million 'clean energy' bonds

Salmond touts Norway green interconnector

China plans mega transmission power line

ENERGY NEWS
Afghanistan to pump oil in five months: official

Mozambique gas find hikes East Africa boom

India to reduce Iran oil imports

Philippines bans fishing near disputed shoal

ENERGY NEWS
US DoI Approves Ocotillo Express Wind Project

Opening Day Draws Close for Janneby Wind Testing Site

NASA Satellite Measurements Imply Texas Wind Farm Impact on Surface Temperature

Scientists find night-warming effect over large wind farms in Texas

ENERGY NEWS
Motech Americas Exclusive Supplier of Standard PV Solar Modules

Solar Polysilicon Pricing Plunges as Buyers Flock to the Spot Market

Carmanah Launches EG145 Solar Streetlight

Demand for commercial solar projects soars as planning restrictions are lifted

ENERGY NEWS
S. Korea nuclear contractor jailed for parts scam

Firms fear summer meltdown in nuclear-free Japan

Japan's TEPCO posts $9.76 bn full-year net loss

New Romanian PM keen to expand nuclear plant

ENERGY NEWS
Relative reference: Foxtail millet offers clues for assembling the switchgrass genome

Lawrence Livermore work may improve the efficiency of the biofuel production cycle

Discovery of plant proteins may boost agricultural yields and biofuel production

Researchers look to relatives for clues in quest to develop sources of bioenergy

ENERGY NEWS
China confirms plans to build own orbital station

Building a Heavenly Palace in outer space

Long March-2F rocket delivered to launch center

China's Lunar Docking

ENERGY NEWS
Statistical Analysis Projects Future Temperatures In North America

Mauritania growth at four percent despite crippling drought

Climate talks open in Bonn to tackle emissions targets

EU issues warning to carbon tax rebels China, India




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement