Despite recent cuts in energy prices, and perhaps faced with finding innovative ways to generate income, a vast number of SME business leaders questioned in the Opus Energy survey expected to be producing renewable power within the next five years, with business owners between the ages of 18 and 34 more likely to make the investment earlier.
Opus Energy recently launched its power purchase agreement product which enables customers to generate additional income from renewable energy, whilst reducing their carbon footprint and powering their businesses. The survey highlighted that a relatively high percentage of SMEs (59%) felt they would be interested in producing their own energy if the Government provided subsidies.
The research also found that many SMEs (42%) said they would switch to generating all or some of their own energy from renewables if it could be proven that they would make a profit from it. This has persuaded Opus Energy to call on the energy sector to make it easier for companies to gain the information they need to get started. The business currently offers these details on its Renewables webpages.
Craig Birch, a Lincolnshire farmer who also runs a green waste composting company, is a good example of an SME owner who is investing in generating renewable power. He installed a wind turbine on his land in May 2011 and is already benefiting financially from renewable energy generation and believes he is contributing to sustainability at the same time.
The wind turbine produces between £40,000 and £50,000 per annum in income for Craig’s farm, and the equivalent sum of energy needed to power half his village. In addition, his import supply agreement with Opus Energy has created over £1,000 per year in cost savings for Craig on connection capacity charges and standing charges. This is approximately one quarter of the total contract value for the exported energy.
