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01/04/2010 Vertical Wind Energy welcomes start of Feed-In Tariffs (FITs)
Vertical Wind Energy welcomes start of Feed-In Tariffs (FITs)
• The regime is a massive shot in the arm to the renewable industry
• Will help move UK to a low carbon economy
On the day that the Feed-In Tariffs (FITs) commenced Tony Gordon, Chief Executive, Vertical Wind Energy, warmly welcomed them and stated:
“With the Government going to pay FITs of up to 34.5 pence for 1kW of energy generated from wind from today (1 April 2010), payable to anyone who installs a turbine or some other renewable energy system, regardless of whether they use all the electricity themselves , purchasers will instantly have a new income stream by installing a Vertical Wind Energy turbine and harvesting free wind.”
“FITs are to be welcomed as they are exactly the sort of stimulus the small wind industry needs, if we are to ensure the UK economy is a centre of excellence for small wind systems and micro-generation as a whole.”
“FITs and permitted developments (when introduced – hopefully in the summer) together will be a double shot in the arm for the micro wind industry in the UK and remove the current barriers to growth the industry faces and mean we can really move the UK economy to a low carbon economy with the jobs and skills that will bring.”
“Savings will accrue from the FITs, from replacement of purchased electricity (typically around 13p/kWh) with own generation and from the sale of any surplus generation to the National Grid, possibly during the 18 weeks of the year when the school is closed. Customers pay off their initial investment within 5 to 10 years. After that all revenue from FITs and excess power sold back to the grid is profit.”
“The Vertical Wind Energy turbines can generate electricity regardless of the direction of the wind unlike many conventional horizontal axis wind turbines. A recent independent market survey looking at the 11 leading turbines on sale in the UK shows that VWE’s Field3 produces the lowest cost electricity, taking into account all costs over the 20 plus years lifetime of the turbine, for turbines rated at less than 10kW.”
Tony Gordon, Chief Executive, Vertical Wind Energy added: “As well as being able to operate at variable wind environments and of course creating an income stream for purchasers, our turbines are also very quiet.”
Bill Richmond, Commercial Director, North East based Clipper Windpower and Vertical Wind Energy and Renewable UK (Formerly British Wind Energy Association) Board member stated:
“Now Feed-In Tariffs are on stream I expect demand for all sorts of wind turbine technology will increase.”
North East based Vertical Wind Energy supplies and installs the Field2 (up to 3kW) and Field3 (up to 6kW) vertical axis wind turbines for use in schools, farms, small holdings and commercial developments.
For further information on Vertical Wind Energy’s turbines and how they can generate you income visit www.vweltd.co.uk