Renewable energy hits a new record in the UK

The latest figures reveal positive news for Britain’s drive towards a more sustainable economy. For the first time on record, solar and wind energy have generated more electricity for the UK than nuclear or fossil fuels. The greenhouse gas emissions in Britain also dropped by three per cent last year, with the use of renewable energy sources growing and coal production falling.

Greenpeace has commented on the figures, saying that the government should stop supporting the nuclear industry and allow wind power to compete in public energy auctions. For the first time, solar panels and wind farms generated more electricity than the eight subsidised nuclear power stations by the end of 2017, according to official figures.

Government ministers have hinted that they may reconsider their stop on subsidies for onshore wind farms after closing previous subsidy schemes early. With the costs of renewable energy technologies now plummeting, the government has a harder time justifying ongoing subsidies and support for more inefficient technology sources such as fossil fuels and nuclear.

The news is good for businesses. Many have adopted their own green energy measures to save money, enjoy subsidies where they exist, and ensure their own energy security of supply. For most businesses, the switch to green energy is also extremely customer friendly, with many customers prepared to seek out sustainable and responsible businesses that take their role in the wider community seriously.

Whether a business gets its own solar PV panels or roof-mounted wind turbine, invests in a biomass boiler or simply seeks to apply better insulation across building premises to reduce heat and air conditioning waste, these investments can pay off in myriad ways. Many direct renewable energy investments also have a rapid payback period and can be developed on a micro scale. Where businesses produce waste materials, such as heat from production and manufacturing processes, on-site renewable energy can take these waste outputs and recycle them into usable energy, improving sustainability, cutting waste, and lowering business operating costs.

Century Business Finance offers unsecured business loans of £25k to £500k that can be used for any purpose, including renewable energy investment. Our interest rates start at just 4.8 per cent and our repayment terms are flexible from six months to five years, with fixed repayments for ease of planning. This enables you to spread the cost of your renewable energy investment without dipping into your precious business reserves and impacting your liquidity.

Even better, our loan application process is quick and easy and takes just a few minutes. Simply apply online for an immediate decision and the funds can be in your bank account the following day. We accept nine out of ten applications, making us one of the most generous lenders on the market.

Any queries?

Our business lending team is experienced across a number of industries and knowledgeable about renewable energy investments. Remember that we fund all business investments, with unsecured and secured loans for all purposes and on excellent terms. Contact us to find out more or to discuss your situation. Alternatively, apply online now for an immediate decision without the need for any meetings, waiting around or complex paperwork! It is no wonder that many of our business customers use our loans time and time again to grow their businesses.