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The pros and cons of investing in renewable energy - 26 January 2012

Renewable energy resources form a key part of the U.K.'s plans for reducing reliance on fossil fuels for the nation's energy needs. Although at present they constitute a small percentage of the U.K.'s energy market, they are a growing force. The UK is uniquely positioned to take advantage of a wide variety of renewable resources and a host of renewable energy companies are joining the marketplace. Even private home owners have many ways in which they can access natural resources to produce energy.

Wind turbines.

One resource that the UK has in abundance is wind. You may see wind turbines as an unsightly blot on the landscape, or evidence that the UK is making strides towards becoming free of dependence on gas and oil for energy. Almost 40% of the wind energy in Europe blows across the UK, so we are ideally placed to take advantage of this natural resource. At present wind turbine technology only produces a fraction of the U.K.'s energy but this in is sure to grow. How can you get in on the green energy act?

Installing a wind turbine will enable you to generate your own electricity. Once you have recouped your initial investment your ongoing electricity bills will be reduced accordingly. This will not only save you money but reduce your household CO2 emissions. Wind turbines are able to generate power at any time, unlike solar technology which relies on the sun shining. Batteries can be used to store energy for when the wind isn’t blowing.

If you are lucky enough to produce more electricity than the you require, you can generate income selling the electricity back to the grid, by accessing various government feed in schemes.

Whilst some see wind turbines as unattractive, new designs are considerably more aesthetically pleasing, built to blend in with the surrounding landscape. Wind turbines do emit a low-frequency noise, though in modern designs this is much less pronounced. Domestic installation can be costly, though a small roof mounted microsystem can be installed for £2000.

Solar panels

This is another renewable energy technology that has seen considerable technological advancements in recent years, making it viable for the average homeowner to see a return on investment on an installation. Like wind power, the biggest advantage is that you are using a renewable source for part of your energy needs. As this does not rely on the burning of fossil fuels, your household will be releasing less CO2 into the atmosphere. With energy costs ever on the rise its a terrific way to future proof yourself against rising costs.

After the initial instalment costs, energy is entirely free. An installation is likely to cost between 8000 and £14,000 depending on the type of panel you wish to install. Solar panels will last for 25 years or more and require little maintenance, just a decent clean every so often. With the addition solar panels batteries, you can stockpile solar energy making it available whenever you need it.

The UK government has used various incentives to encourage householders to install solar technology. Currently the Renewable Heat Incentive, which has been in force since April 2011, provides payment over a 20 year period based on the amount of energy you are likely to produce.

In order to be able to install solar panels, your house must meet certain requirements. You must have a large enough area of flat roof to position the panels, and for maximum efficiency, the roof must be south facing and not shaded by trees or other buildings. The angle of the roof the horizon has to be roughly 30°. Those living in cities with pollution problems may find that photochemical smog may reduce the efficiency of their panels. If you wish to be considered for a government backed 'Feed In' scheme you must ensure that your home is energy-efficient. This may mean installing loft and wall installation, and double glazing.

Ground heat pumps.

Ground heat pumps utilise geothermal energy to reduce your homes reliance on traditional energy supplies. These pipes are buried in the garden, and extract heat from the ground. This heat can then be used to heat your home, via radiators or an underfloor system, and supply hot water. Depending upon the amount of space you have to dedicate to the installation you can heat a considerable size property. Ground source heat pumps can contribute to reducing your fuel bills, especially when used to replace conventional electric heating. They require little maintenance and could provide an income via the governments Renewable Heat Incentive. Ground source heat pumps provide the best return on investment when utilised to replace a coal or electrical heating system. Installation costs will be between 9000 and £17,000 with a potential saving of up to £700 annually.