Global Energy Concerns

The pressing, well publicised, and constantly evolving issue of climate change has gripped the global population for decades and whipped up a storm of international pressure to take seriously alternative sources of energy creation to feed the world's appetite for power consumption. It is these sources of alternative energy sources, so-called 'renewable energy', that appeal more than ever against a backdrop of pollution, habitat destruction and increasing energy costs. Indeed it is these concerns that, in part, are fuelling governments to force forward 'green' legislation and incentives searching for newer, natural, resources that can provide an answer to spiralling energy prices, fossil fuels running dry and a growing carbon footprint.

What is Renewable Energy?

Renewable energy refers to energy which occurs and can be replenished naturally and includes tides, sunlight, wind, rain, biofuels and geothermal resources. In 2008, renewable energy accounted for one fifth of the world's energy consumption, a figure that is projected to grow steadily over the next decades. Approximately three million global households are powered, at least in part, by photovoltaic solar energy for example and countries, such as Brazil, Denmark and the United States have significant renewable energy programmes. So rather than sit back and take their foot off the pedal, the global community is surging forward with plans and encouragement for numbers of users to increase. One such incentive is the 'Clean Energy Cash Back Scheme'.

How does the scheme work?

In the UK, the Energy Act 2008 set out to assist businesses and private households by creating a scheme that you can apply to be part of, which provides you with income or preferential prices for using renewable energy as your preferred choice. This is how the Feed In Tariff (FIT), as it is called, broadly works: you install a system of renewable energy, let's say a wind-turbine, for example. When you make the initial outlay to install this, you can choose to join the FIT scheme that is provided by the government. This promises you a fixed rate of income for each unit of energy you produce from your wind-turbine and further income if you feed this energy, or the quantities you don't use, back into the Grid. Quite often it is more than the market rate so in the long-term you are not only producing energy in climate-friendly manner, but you earning money whilst doing it. Add onto that, the tax breaks that are dangled in front of potential Clean Energy producers, and the package does look an attractive one.

Naturally, this is just one example. Similar situations would apply for Solar Power as it would for Hydro-Electricity. The only difference would be the 'cash back' amounts as values vary depending on the type of renewable energy you choose, the amount of KiloWatts produced and over how long a lifespan. There have been issues with the sign-up dates and transferral of scheme members bridging legislative transformation, but this is generally a thing of the past and as popularity of Clean Energy increases, so does the fluid operation of the scheme and attractiveness to future initiatives. So the message is clear, want to go Green? Go Clean! And start earning in the process.