Erecting wind turbines on your farm or commercial property can generate not only pure clean energy but also an additional income stream for up to 20 years with almost no extra labour.
The majority of this revenue comes from the U.K. government’s Feed-In Tariffs (FITs) scheme. Just by having working turbines on their land, farmers and landowners can receive money for producing and exporting low carbon and reusable electricity as well as lessen or completely halt electricity expenses.
The FITs took effect in April 2010 to replace government grants and other incentives to encourage U.K. citizens to build and use reusable and low carbon electricity sources.
As a result of the scheme’s implementation, FIT-licensed electricity suppliers are required by law to pay FITs to customers who use reusable energy sources. Smaller companies are not required to do the same, but many choose to do so anyway.
The first payment through the FITs is called the generational tariff. This tariff is a payment by the landowner’s electricity supplier for every kilowatt-hour (kWh) unit of electricity produced by the turbine. These rates vary depending on the size of the system & the technology installed.
The medium sized Vestas V27 wind turbine that Boythorpe uses is expected to yield 411 megawatt-hour (MWh) units annually at 6 metres per second (m/s).
Export tariffs are the second source of income through the FITs.
This tariff includes additional payment from the electricity suppliers for energy that landowners generate, but do not use. This unused electricity can be a big source of money for landowners. The energy supplier will pay 4.5p for every kWh of unused energy exported to the electricity grid. If the landowner is an average or low electricity user, an estimated 75% of electricity produced will be unused electricity that could be exported to the national grid to receive the tariff, according to Energy Saving Trust. If the landowner is a higher than average electricity user, an estimated 50% of electricity will be exported.
Buying wind turbines to put on land is a big investment, but Boythorpe’s joint venture partnership arrangement can make that investment much more affordable by allowing the landowner or farmer to invest up to 50% of the costs with the company.
Through this partnership, landowners can also benefit by buying the energy generated by the turbine at 5p per kWh, which is much cheaper than the rate that other energy suppliers charge.
Using this electricity not only benefits landowners by saving them money on energy bills, but also due to the low cost as a result of the partnership and turbine price, Boythorpe Wind Energy customers usually have just a two-year pay back time.
Although having an extra income is great, wind turbines do a lot more than bring in money. Along with personal financial benefits, wind turbines reduce landowners’ carbon footprint and benefit their local and national economies. Generating electricity gives landowners energy security and independence for years. Other renewable energy sources do this as well, but wind turbines are the cheapest per kW of them all. Turbines are a great option in the U.K because the country has the best wind resources in all of Europe, according to the Sustainable Development Commission.
British landowners and farmers are in one of the best places and times in the world for wind energy, and should take advantage of this while they can.
To find out more information about how Boythorpe can work with you to put wind turbines on your land, click here.
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