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North East businesses invest over £27m in renewable energy

Businesses across the North East have now invested over £27m in onsite renewable energy projects to cut costs, improve security of supply and reduce carbon footprint, according to new figures.

The latest Energy Entrepreneurs Report compiled by independent energy firm SmartestEnergy shows there are now 18 projects including rooftop solar installations on warehouses and wind turbines at factories in operation across the region.

Together the projects are capable of generating some £10.3m worth of electricity a year, enough to power 55,000 households.

The latest Energy Entrepreneurs Report reveals continued strong growth in onsite renewables across Great Britain.

In total 176 new projects were commissioned during the year, a 12.8% increase on 2013 with total investment of £16.9m.

There are now 572 commercial-scale onsite projects in operation, generating electricity worth around £10m a year for businesses at current prices.

Iain Robertson, Head of Generation Sales for SmartestEnergy, said: “Volatile energy prices, concerns over security of supply and environmental concerns are seeing a continued appetite among businesses for investing in their own generation.

“These projects can deliver significant savings in energy costs, ensure continuity of supplies and also provide a new income stream from energy generated over and above the needs of the business.

“Consumers are also increasingly interested in the sustainability of companies whose products they buy and investing in renewable energy can be used to highlight environmental credentials.”