True Energy Welcomes Feed-in Tariffs

Tywyn based renewable energy company, True Energy, predicts massive growth in the UK renewables industry on the back of the introduction of feed in tariffs, an initiative which enables those investing in alternative energy sources to sell their surplus electricity to the National Grid at a guaranteed price.

It has been widely reported that the Government will announce the introduction of feed in tariffs in next week’s Budget, following Energy Minister Malcolm Wickes’ revelation that the initiative was under consideration as part of a bid to encourage “micro generation” and to meet EU targets for renewable energy.

Feed in tariffs are seen as a major incentive to encourage industry, commerce and residential markets to invest in alternative energy sources. Currently there are widespread misconceptions about the payback on initial investment even though there is a will to embrace the green technology that is widely available.

Phil McVan, Managing Director of True Energy Limited, whose company is a “one-stop shop” for sustainable energy, said the announcement would be a massive boost to the industry. “This kind of support is precisely what we’ve been waiting for. It will provide a huge incentive for those wanting to adopt a more sustainable approach to domestic energy use”.

“Coming hot on the heels of the Welsh Assembly Government’s Sustainable Energy Route Map last week, this will certainly help stimulate the Welsh economy and satisfy the ‘green jobs’ agenda. If adopters of new energy know that they can receive a guaranteed return for their surplus energy then it’s reasonable to anticipate that demand for solar panels and wind turbines will soar. We intend to be at the forefront in satisfying this demand and in so doing will be able to create much-needed additional green jobs.”

Feed in tariffs are already proven in providing long-term financial security to adopters who install sustainable energy alternatives. In Germany, Solar Electricity and Hot Water installations have soared since 2003 when their government introduced such an initiative. With new EU targets stating that Britain must generate 15 per cent of its energy from renewable sources by 2020, True Energy believes the introduction of the feed-in tariffs would be the most significant step yet towards the achievement of this target.