Over a third of UK farmers keen on renewables investment

28/09/2011

That is the main finding from a new survey published by Barclays, which found that 37 per cent of the country's 200,000 farmers wanted to install green technologies such as solar panels, wind turbines or anaerobic digestion (AD) systems.

Barclays launches £100m fund to help farmers tap into £25,000 average annual savings available from solar, wind and hydro power.

Two in every five UK farmers are expecting to invest in renewable energy and are targeting average annual returns of £25,000 in reduced energy bills and new income.

That is the main finding from a new survey published by Barclays, which found that 37 per cent of the country's 200,000 farmers wanted to install green technologies such as solar panels, wind turbines or anaerobic digestion (AD) systems.

The results echo earlier research by RBS and NatWest, which similarly found that the agricultural sector is rapidly embracing renewables investment as a means of diversifying revenue streams and tackling rising energy costs.
Barclays' poll of 300 dairy farmers in England, Scotland and Wales was released to coincide with the launch of a new £100m fund designed to help farmers install solar, wind, AD, or hydro projects.

Barclays said 80 per cent of the farmers it polled recognised the cost savings renewable energy could provide, while 60 per cent said solar panels, wind turbines and hydroelectricity would generate additional income for their businesses. The majority of respondents said they were looking to fit such technology over the next year.

Travers Clarke-Walker, product and marketing director for Barclays Business, said that in most cases renewable energy projects would pay for themselves within 10 years.

"Renewable energy production offers farmers a further opportunity to develop their businesses and add to their traditionally vital roles of producing food and managing the countryside," he added. "Farmers see this as a win-win – lower costs and increased income."

Farmers have suffered from falling commodity prices, even among premium organic products, which has left many in the sector unable to capitalise on the benefits of renewable energy.

Commercial lending is therefore essential for covering the upfront costs, said Meurig Raymond, NFU deputy president.

"The opportunities for farmers to produce renewable energy, thereby helping to decarbonise the economy and contribute to the UK's long-term energy security, are there for all to see," he added.

businessgreen.com

Over a third of UK farmers keen on renewables investment

Clean energy brings stable electricity supply to Truong Sa Archipelago

National Energy Efficiency Programme - Ministry of Industry and Trade