Profit from wind-turbines

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Finance
Written by Gary Howes   
Thursday, 20 November 2008

Businesses across the UK are off-setting the costs of going green by selling the surplus power generated by their wind-turbines to Opus Energy.

Opus Energy then uses this power to supply their customers, meaning that the proportion of cleaner energy Opus supplies to the UK is increasing.

The Government’s Low Carbon Buildings Programme (LCBP) has been actively encouraging micro-generation for households and businesses providing grants for installation since 2006.

In addition, the ‘Merton Rule’ has been adopted by many local councils throughout the UK which now demand that plans submitted by developers for new non-residential buildings must include renewable energy micro-generators capable of producing at least 10% of the building’s total energy consumption directly on site.

The facts about micro-generation

  • The cost of installing a 6kW wind turbine at a premise is around £18,500 after available grants
  • At a national average wind speed (6m/s) at current electricity prices, this turbine could start to ‘pay for itself’ in its seventh year
  • The smallest wind turbine installed by Eagle Power is 3.5 meters in diameter, with 2.5 kW output


Eagle Power, the wind-turbine installation company, has seen numbers of wind turbines installed double in the last year. Owner and manager John Gumbley said, “All of our customers are keen to know that they can earn ‘payback’ from their turbine. Being able to earn money from the power you generate, beyond what you use to run your property, makes green energy an attractive option.”

Forty percent of Eagle Power’s customers are businesses looking to improve their green credentials and simultaneously cut the cost of their energy bills. Having installed a wind-turbine, Eagle Power advises it’s customers to team up with Opus Energy to top up their balance sheets with the income from selling their extra power.

John said, “We recommend our customers to Opus Energy because they make it really easy for businesses to start selling their excess energy. You can talk to their dedicated customer services team directly in the UK who will work with you to ease the accreditation process. As well as being friendly and well informed about micro-generation.”

Valpy Fitzgerald, Risk Manager at Opus Energy said, “We are delighted to be working with Eagle Power to encourage micro-generation in the UK. With diminishing natural resources and the increasing price of energy, wind-turbines can provide an excellent solution to minimising both environment and business costs. Those businesses that do take the initiative to install turbines can look to buffer the effect of rising economic costs by selling back their surplus power to the Grid.”

For the months when wind speeds are lower, many businesses also choose to have Opus Energy as their electricity supplier. This way, Opus customers can off-set the cost of energy they use from the grid, with profits from the energy they sell back through micro-generation, reducing their overall annual bills.




 

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Comments (1)Add Comment
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Posted by Alice Peters, 20 November 2008
As someone who is looking into domestic opportunities to generate electricity, I was interested to read that this initiative is becoming more economically viable. It is also very positive to read that the Government is also encouraging microgeneration through individual and local business and future development plans….with rising energy costs it can only be a good thing to take steps to generate ones own electricity and make money from it.

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