Couple set to save £297 a year on bills with renewable energy project
Smart Energy shares tips for reducing energy bills
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Stephen and Nic Healer from Manchester have purchased shares in the Graig Fatha wind farm, in Wales, which is run by Ripple Energy. They receive money off their energy bills for the lower costs of producing the energy on the farm, compared to the market electricity price.
The couple signed up to the scheme in their efforts to be as sustainable as possible in their energy use, helping them move away from gas.
The Healers have bought just under £2,000 worth of shares, and this year they are forecast to save £297 at a set price, with savings of £4,200 over the 25-year lifespan of the turbine.
Their savings for this year are based on a saving rate of 9.46p per kWh, with an estimated rate for the 25 years of 5.30p per kWh.
Stephen said: “It is a really big help, and we had signed up at a good time as Graig Fatha came online when electricity prices started to go a little wild.
“But I really see the value in it and as my electricity usage has gone up as our family has grown since we first signed up (and adding an electric car), I’ve bought into Ripple more as I can see the benefit it is giving back.”
They initially bought shares in the Graig Fatha farm and have since bought shares in Ripple’s second project, Kirk Hill, in Scotland.
The savings are added as a credit on a person’s electricity bill, based on how much their share of the wind farm generated the month before.
They decided to gradually increase their wind farm ownership as their energy consumption increased, and now own 1,100 watts through their shares, which are expected to generate 3,085kWh annually.
Stephen said it was easy to sign up for the project: “The process was simple, just filling in a few questions like signing up to anything.
“Obviously, you also want to know how much electricity you want covered by Ripple as well, but they help make that easier.”
More than 900 people across the UK have joined the scheme, with individuals required to invest at least £25 in shares to sign up.
High winds during October generated some 671MWh of energy, with some shareholders seeing their energy bills reduced by almost half.
A person can keep their shares when they move house so someone could sign up even if they rent their property.
Stephen said of the scheme: “It definitely has a lot of potential. One of the reasons I signed up in the first place was that it can be used by ordinary people to get the benefit of the wind turbines being built, and as prices have risen it’s been a good buffer for that.
“I think Graig Fatha has shown that it can work, and I hope that other people see the benefit and this can be replicated really widely.”
The families signed up to the scheme are saving on average £160 per household, and have together saved more than £100,000 off their electricity bills.
There have been reports that the Government will offer grants of £15,000 to help make homes more energy efficient.
Business Secretary Grant Shapps is reportedly soon to announce a £1billion fund to help Britons pay for energy-efficient appliances and infrastructure in their homes.
Loft insulation can save families £640 annually, covering the overall installation cost over a two-year period.
Families may also want to consider thermostatic valves and advanced thermostats, which can cut energy costs by £525 a year.
However, these smart heating controls can cost as much as £800 to install, so extra financial support and grants could be a big help for low income families.
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