Many viable UK projects to generate renewable electricity are not being financed because of shortages of credit from banks. At the same time, individual savers are only able to get tiny returns on their savings. In recent days a number of schemes for linking the UK surplus from household savings to the deficit in renewable financing have surfaced.
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|Copyright: SyB – Fotolia.com.|
We didn’t make much progress reducing emissions when times were good. Will the looming depression makes things worse or better? The discussion of this issue, at least in the UK, tends to be superficial. The only question asked seems to be ‘will people buy less eco-bling when times are hard?’
Tags: aviation, carbon footprint, carbon reduction initiatives, corporate emissions, domestic, energy efficiency, food and grocery retailing, fossil fuels, housing, investments, motoring, politics, power generation
|Westmill Wind Farm Co-op, Watchfield, Oxfordshire. Photo credit: http://www.energy4all.co.uk.|
Community-owned wind farms are a rarity in the UK, despite their popularity in other parts of northern Europe. So should we welcome an opportunity for individual investors to invest in a newly built wind project in northern Scotland? Yes and no. The prospectus promises reasonable returns. But the protections to investors are limited and the information about the mechanism by which shareholders get their returns is sadly lacking. Even enthusiasts for individual investments in wind power need to be very cautious about investing in the Great Glen Energy Co-operative.
|Offshore location map of the London Array. Click on the image to see a more detailed map from the London Array website (opens as a PDF).
Shell backed out of its commitment to provide the financing for one third of the world’s largest offshore wind farm off the Kent coast. The London Array, expected to cost about £2bn, now needs to find a new investor. What about tapping the public? The project has reasonable economics, and private individuals could benefit from 40% tax relief by putting shareholdings into pension plans. Perhaps as importantly, such a move would raise understanding of renewable energy generation among the wider community.
New book from Chris Goodall
- @kirstygogan @Roddy_Campbell MottMac said around £350/MWh based on 2009/10 numbers. Didn't predict speed of decline. But did anybody? 5 days ago
- @DrChrisJardine Not quite the approach I used. My method was to say if you used EdF's target return would large solar make money? Answer=yes 5 days ago
- @DrChrisJardine Chris,I politely differ. Put solar in field and works for 30 yrs.Nukes threatened by public opinion, fuel prices, accidents 5 days ago
The full ‘Peak Stuff’ paper
Chris Goodall email@example.com +44 7767 386696
- Solar is now cheaper than nuclear. Even in the UK.
- How communities raise money for energy cooperatives
- Small renewables about 0.6% of UK electricity consumption
- National Trust inconsistent in opposing all wind farms while saying it supports renewable energy
- Another success for community renewable energy: Osney raises its cash in ten days.
- UK greenhouse gas emissions are falling, not rising.
- Your solar panels are probably working properly
- No net savings from energy policies
- Time to stop promoting air source heat pumps and ask why they don’t work in the UK