Over the past 30 or so years, there has been a marked shift in global energy production towards renewable energy and away from more traditional sources of power. In 2015, the Paris Agreement was adopted and ratified by close to 190 countries, with an aim to limit the effects of global warming. The Paris Agreement sets out targets to reduce carbon emissions, a by-product of creating energy by using fossil fuels.
In order for the UK to meet the targets set out by the Paris Agreement, there is a real need for businesses to band together and make a commitment to finding renewable sources of energy. Needless to say, green credentials are something a business can shout about. Making existing and potential customers acutely aware of the commitment to reducing the carbon footprint of your business is definitely appealing to many customers, and for some, it is a major factor in selecting where they spend their money.
In addition to business reasons, it is our moral duty as custodians of the planet to look to reduce carbon emissions. Places such as Energy Center of the World and the Centre for Alternative Technology in North Wales have been at the forefront of renewable energy research for many years, showing the possibilities of a low carbon lifestyle.
Types of Renewable Energy Available
One of the most common ways of harnessing renewable energy is to install solar panels on your buildings. Solar Photovoltaic panels are generally affixed onto a roof, angled so they get the maximum benefit of the sun’s rays during a day. The energy harnessed here can greatly reduce energy bills, by using the energy harnessed to create electricity.
“The boom time for installing PV panels has passed, with feed in tariffs and government grants a thing of the past, going solar can be a costly process,” shares Shailesh Ramani from https://freepricecompare.com/ Reductions in your energy bills, however, are instantaneous, so solar power begins to pay for itself immediately. The effectiveness of solar energy is based upon the direction of your roof, and how much sun your property gets.
A small-scale solar power system can cost anything from £5,000 to £10,000, paying for itself over 6 to 10 years.
In addition to using solar power to generate electricity, another method of harnessing the sun’s power is to heat the water in a hot water tank, reducing heating costs. A solar thermal energy system is cheaper than a PV system, costing between £3,000 and £5,000. It is estimated that this system will pay for itself over 5 years or so.
Wind power is one of the UK’s most plentiful sources of renewable energy. If your business is located in an area where there is quite an abundance of open space, a wind turbine can dramatically reduce your energy costs. The onshore and offshore wind farms produced 14.8% of all electricity consumed by UK homes and businesses in 2017.
Wind turbines cost from around £10,000 for small scale micro turbines, to over £3 million for the largest models. It is estimated that smaller turbines will pay for themselves over anything from 8 to 15 years, where a large turbine will see its initial investment recouped in between 1 and 5 years.
Wind turbines will require planning permission in order to be erected. Objections can be lodged by local residents or businesses, and permission is not always granted.
Ground source heat pumps work by harnessing geothermal energy, or heat which exists underground. A ground source heat pump system consists of a ground loop, a closed pipe buried outside which is filled with a mixture of water and antifreeze. The water in the loop absorbs heat from the ground, which then passes through a heat exchanger into the heat pump. As the ground remains at a fairly consistent temperature throughout the year, a ground source heat pump is an effective source of energy all year round. The size of the ground loop will depend on the size of your business premises and the amount of heat needed.
Ground source heat pumps cost between £11,000 and £15,000, generally taking around 15 years to pay for themselves.
Benefits of Renewable Energy
One of the biggest benefits of getting on the renewable energy train is that your business is shielded from energy price increases, keeping your monthly outgoings relatively stable. Renewable energy can also provide a sustainable source of energy, which is important as fossil fuels become increasingly limited.
Reduced emissions will help your business, as well as the country meet its targets for carbon reduction as per the Paris Agreement.
Another major benefit of renewable energy is that any unused energy can be sold back to the grid at a premium, making additional money from your investment.
Drawbacks of Renewable Energy
There are some things to consider, perhaps the most immediately noticeable drawback is the higher upfront cost. All of the options explored above cost at least a few thousand pounds. It is expected that these costs will be recovered in time, and profits made following this, but the initial outlay cannot be ignored.
Also, many forms of renewable energy have limitations when it comes to storage. Solar energy, for example, is very much ‘use it or lose it’, unless you pay for a battery system as well. This makes these types of energy fantastic for some businesses, but less usable for others.
Finally, there could be geographic limitations. If your business is located in the bottom of a valley, where your building is in shadow for much of the day, solar energy can be a bit of a non-starter, so it is important to understand your own position before going down the renewable road.
It is of course up to all of us to think about how we can reduce our own carbon footprint. Finding ways to increase our use of renewable energy is a major step in achieving this goal, and in buildings where solar energy is not going to work, looking at wind, geothermal or even hydroelectric power could be the solution.
