Over the last couple of years we’ve been working with Friends of the Earth on a renewable energy campaign. Today we see the results as the Government introduces its ‘Clean Energy Cashback’ Scheme, also known as Feed-in Tariffs (FITs).
Basically, this scheme rewards householders and businesses that generate their own electricity from renewable or low carbon sources. As you may have seen from our previous blog post, we do this ourselves using solar panels on The Premises Studios’ roof.
It’s something that’s been attractive to our clients. Lily Allen used the studio for her last album (‘It’s Not Me It’s You’), and said “Having worked at the Premises solar powered London recording studio I have experienced how clean and green renewable energy is. I fully support giving people a renewable energy reward for the power they generate. It’s good to be green!”
The Klaxons said of their time in the studio “we’re proud to back the We Support Solar campaign for Feed-in Tariffs. We use The Premises solar powered recording studio and we know how important solar power is to the delivery of a low carbon UK.”
In a nutshell, the Feed-in Tariff scheme is a fantastic incentive to anyone thinking of installing renewable energy technology on their building. The scheme guarantees them a minimum payment for all electricity generated by their system. They also get another payment for any of their electricity that they ‘export’ to the national grid.
And there’s not only that income to think about, but also the savings made by using the electricity generated on-site.
It is estimated that at current FIT levels the average household could make around £1000 a year in savings and income, so, on an investment of £10,000 to install solar panels you could get back approximately 9.7% per year. That’s a pretty healthy result.
We’re delighted this has finally been passed and the campaign has been a success!