Feed in Tariffs for Business

The Energy Saving Trust held an event recently about Feed in Tariffs for business.

Craig Bennett from Friends of the Earth, which was the organisation that took the initiative to get FiT in the UK in the first place, highlighted the benefits of businesses installing PV: Installing the technology to microgenerate your own electricuty can have a transformative effect on business and communities, and insulating them from the effects for oil price increases. For more, see FoE's publication, Fit for the Future.

Ian Cuthbert from the Energy Saving Trust explained how a business might go about choosing to install PV and then how they might benefit. The FiT system does not distinguish between business and domestic installations, only the scale. FiT is available for installations up to 5MW in output. In terms if income, there is a Generation tariff for each KW generated and an Export Tariff for each KWh exported to the grid. Prices are guaranteed for 25 years.

So, a business interested in installing a microgeneration plant must follow these steps:

1. Minimise consumption of electricity

2. Decide which technology to use: Solar, wind or water

3. Appoint a FiT supplier

4. Provide a FiT eligibility certificate

5. Start making electricity

More detailed information is available at the Energy Saving Trust Website. They also have a cashback calculator to work out the return on your investment.

Will Fellows from the Carbon Trust explained the loans which they are offering to businesses. These 0% government funded loans are offered to businesses which are interested in installing renewable energy. They are paid back from the savings made by the business in generating their own energy. Businesses can borrow from £3000 to £100,000, as long as the money is spent on renewables.

More detail about the loans and the application process can be found on the Carbon Trust's website.