Ownergy comments on Olympics wind turbine
Following the news that the Olympics Development Authority is scrapping plans to install a wind turbine, Ownergy, the experts of the renewable energy tariffs, comments on the financial benefits the Feed-In Tariffs could bring to develop solar PV installations around the Olympics Park. Ownergy Marketing Director, Scott McLean, said:
“The ODA is right to scrap the wind turbine as the wind speed is inadequate in that area. However, there seems to be some concern about the financial viability of the using solar PV panels to provide renewable power for the various buildings and we must therefore point out that the ODA appears to be overlooking the Feed-In Tariffs scheme.
“Under the Feed-In Tariffs, which went live on April 1st, the ODA would be paid for the electricity it generates and uses itself as well as an additional payment for any surplus which goes back to the Grid. As individual buildings could have separate solar arrays, size limits are unlikely to be an issue.
“Ownergy is already involved in a number of stadium projects around the UK for the installation of the solar PV, so the viability of the scheme is not in question. It is also not too late to incorporate solar PV into the scheme as all of the stadium projects we are involved in are retrofits. Additionally, it is likely that third party investors could be prepared to finance the scheme in return for the guaranteed tariff income for the next 25 years. This would allow the ODA to meet its renewable energy targets without having to fund the installations.”
