Renewable Energy - A Hot Topic
With the advent of Feed In Tariffs (FITs), renewable energy is the current hot topic in the property world.
Whilst large wind farms with ever larger turbines are the most visible renewable energy source, today’s property owners are also looking at the smaller scale opportunities which might enable them to benefit from the tax free income available under FITs.
Sarah Tyson of our renewables team said: “All of us involved in property today have to keep up to speed with the concept of renewables and sustainability – from estate agents to farmers and factors of estates.
“We have a comprehensive database of knowledge for the larger wind farm developments and are compiling a wide variety of information on the possibilities for smaller schemes. Solar panels, smaller wind turbines and hydro electric schemes are all increasingly popular, but with the number of specialist renewable consultants springing up, it is critically important to choose the right one, ideally with a proven track record. What is evident is that each scheme has its differences and every owner has varying requirements, but the advent of additional funding can make the vital extra margin.”
“It’s not just individuals – often neighbouring landowners are getting together to make things work, such as neighbours collaborating to do a hydro-electric scheme on a march burn. Even if you are not going in directly on a joint scheme, there may be the need to negotiate access or cable routes across your own and neighbouring ground and we have huge experience of this right across the country.”
Evidence of the enthusiasm for domestic scale renewables is feeding through into the residential sales market. We were involved in the sale of a prestigious development at Kingennie near Broughty Ferry which has houses served by Ground Source Heat pumps, whilst a property near Hawick has its own private hydro electric scheme. Even if you are likely to move on from a property where you have installed ‘green energy’ systems, their presence could prove attractive and help to sell in a difficult market, especially if the new owners can see the obvious benefit from a guaranteed income under FITs or the Renewable Heat Incentive.
Government targets seek to increase the use of renewable energy sources and whilst payments for pursuing such schemes are available, it is an avenue that every property owner should at least investigate.
For more information on potential renewable energy options, contact Sarah Tyson on 01343 546362 or email: firstname.lastname@example.org.