Installing solar panels or a wind turbine can be a very good investment in the UK thanks to the feed in tariffs which pay householders a tax-free, index linked income for the energy they produce, providing over a 10% annual return.
The tariffs pay up to 41.3p for every 1kWh of electricity produced using solar panels and an extra 3p per unit on top for any surplus electricity sold back to the grid.
The average cost of home solar panel installation is £14,000.
From this outlay, Ownenergy, a company that advises consumers on renewable energy, suggest that averge 3 or 4 bedroom hosue can expect a return of approx £950 per year.
Given that the income is tax free the return is equivalent to 12.9% for a 50% taxpayer and 10.3% for a 40% taxpayer, with the investment being recouped in as little as 7 years.
Electricity feed in tariffs were introduced by the UK government in April 2010 as a means of encouraging householders to install solar panels or wind turbines.
A sycamore seed design may be set to revolutionize the wind power industry.
British engineers have designed a giant wind turbine called the Aerogenerator that would rotate on its axis mimicking the way sycamore seeds fly.
The Aerogenerator has two arms coming out of its base to form a V-shape, with rigid “sails” mounted along their length. The arms act like aerofoils as the wind passes over, helping to generate lift.
It would measure nearly 900 feet from tip to tip and could generate 20MW or more of power.
Engineering firm Wind Power Limited is developing the Aerogenerator, along with architects at Grimshaw, academics at Cranfield University and Rolls Royce, Arup, BP and Shell.
The first Aerogenerator could be up and running by 2013.
Feargal Brennan, head of offshore engineering at Cranfield University, says “Upsizing conventional onshore wind turbine technology to overcome cost barriers has significant challenges, not least the weight of the blades, which experience a fully reversed fatigue cycle on each rotation.”
“As the blades turn, their weight always pulls downwards, putting a changing stress on the structure, in a cycle that repeats with every rotation – up to 20 times a minute.”
“In order to reduce the fatigue stress, the blade sections and thicknesses are increased which further increases the blade self-weight. These issues continue throughout the device.”
“Drive-train mountings must be stiff enough to support the heavier components inside the nacelle on top of the tower, otherwise the systems can become misaligned and the support structure is also exposed to extremely large dynamic thrust and bending stresses, which are amplified significantly with any increase in water depth.’”
Wind power is now generating 2% of global electricity demand, according to the World Wind Energy Association.
The countries with the highest shares of wind energy generated electricity: Denmark 20%, Portugal 15%, Spain 14%, Germany 9%. Wind power employed 550,000 people in 2009 and is expected to employ 1,000,000 by 2012.
Globally 38,025 MW of capacity were added in 2009, bringing the total to 159,213 MW, a 31% increase. The graph shows the top 10 producers (with the exceptions of Denmark and Portugal) and includes Japan (which is 13th).
From 2005 to 2009 the global installed wind power capacity increased 170% from 59,033 megawatts to 159,213 megawatts.
Over the 4 year period the capacity in the USA increased 284% and in China increased 1,954%. China grew 113% in 2009, the 4th year in a row it more than doubled capacity. In 2007, Europe had for 61% of installed capacity and the USA 18%. At the end of 2009 Europe had 48% of installed capacity, Asia 25% and North America 24%.
Australia:
Small wind-energy companies fear privatisations of power stations and retailers in New South Wales and Queensland could weaken competition in the electricity market, hindering their capacity to contribute to the federal government’s 20 per cent renewable energy target.
Under the renewable energy target, retailers are required to buy or create enough renewable energy certificates (RECs), each representing one megawatt-hour of emissions-free electricity, to meet an annual target.
But because they are generators as well as retailers, AGL Energy and Origin Energy have tended to get the certificates through wind farms they have built themselves, according to The Australian Financial Review.
As a result, independent wind power companies such as Infigen Energy, Pacific Hydro and Canberra-based Windlab, can have difficulty locking in long-term supply contracts for the certificates they produce. Without a long-term contract, banks will not provide finance for a wind project.
“The reality is you need competition in the market place at a retailer level,” Windlab chairman Roger Price said. “I’d rather see four or five major retailers that are looking to purchase RECs rather than just two which are extremely vertically integrated.”.
Wind is the number one source of new electricity-generation installations in both Europe and the U.S. and has been for the last year or two, according to green energy analysts.
“Wind is the one renewable energy source that, currently, is competing directly with coal and natural gas for electricity from new power installations.” says GreenTech Opportunies analyst Peter Cox.
Wind and natural gas combined accounted for about 80% of new capacity added to the U.S. electrical grid.
“Wind energy is now so cheap that residential customers in Germany and Texas are receiving rebates on their utility bills because such a large proportion of their power is coming from wind.”
