Many farmers likely to invest in renewables, solar power is the favourite

by Solar Selections on September 10, 2012

Farmers considering investing in renewable energy--especially solar power

Over 30% of UK farmers will invest in some sort of renewable energy over the next 2 years, according to a survey undertaken by Barclays. Over 80% of farmers are already considering such an investment, which could include wind turbines, biomass, or solar farms, with the latter being the most favoured among those surveyed.

82% of the farmers surveyed cited the rising cost of energy among their reasons for considering putting their money into renewables. 31 percent said that they though that investing in renewables could either significantly reduce their operating costs or serve as another revenue stream–to the tune of £5,000 to £20,000 annually.

Solar power was the most popular option among the 383 dairy farmers surveyed, followed by wind–51% said they favoured the former most, while 43% held the latter as their first preference.

“Most farmers see a move towards renewable energy as another form of diversification – and rightly so, as it can substantially cut energy costs and create new revenue,” head of agriculture at Barclays, Martin Redfearn said in a media statement.

Redfearn went on to acknowledge that investing in such relatively unconventional technologies as wind and  solar was a ‘big step’ for farmers, but also said that should farmers want to invest, ample support is available. “Talking to your accountant or your bank relationship manager can be a key first step towards finding out whether it is right for your farm,” he said.

He also noted that Barclays is a leading supporter of renewable energy. Last year the bank established a £100 million lending fund in support of renewable energy projects on rural properties and farms.

Solar Selections, as the UK’s Solar Energy Brokers, has facilitated numerous farmers and rural properties in making the move to solar power. Read about how Solar Selections helps clients find the best deals on solar PV installations for farms: Commercial Solar Power and Solar Farming overview.

© 2012 Solar Selections

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