£1.1m invested in independent renewable energy every day
Source: Energy Live News
Businesses, farmers and communities invested more than £400 million – or £1.1 million a day – in independent renewable energy projects last year.
That’s according to a new report, which revealed the projects – a total of 1,619 – included wind turbines, solar and on-site generation plants.
The average investment was £258,000 – down from £352,000 the year before – “reflecting a higher proportion of solar projects which tend to be lower volume than other renewable projects”, the report stated.
Just under 46% of all new independent projects in 2014 were solar.
The total capacity of commercial-scale independent renewable projects now stands at more than 8.5GW, enough to power around 5.7 million households.
Together, they generate electricity estimated to be worth more than £1 billion a year.