With the Feed In Tariff (FIT) set to be reviewed in April 2012 and planning application for a mid range turbine likely to take up to a year, time is running short for landowners and farmers wishing to take advantage of the exceptional returns currently offered by this technology.
The warning comes from chartered surveyor James Fulton at Berrys in Northamptonshire who says in order to lock into the 18.8p per kWh produced by a turbine in the 100kW to 500kW range, the turbine will need to be installed and producing electricity by the end of March 2012.
“On a site with good wind resource such technology can offer genuine returns on capital in excess of 15 per cent and really good sites over 20 per cent,” he said.
This could produce an income of between £90,000 and £130,000 per annum, dependent upon site.
“If you have a site that you feel may be suitable then you must act quickly, either by commissioning a feasibility report if you are minded to install a turbine yourself, or by entering into an option agreement with a third party who might lease the site for typically between £7000 and £10000 per year, depending on wind resource and capital costs on site.
“At Berrys we have experience in installing turbines and Photovoltaic cells on behalf of our clients and have also arranged option agreements and negotiated leases for those minded to let a site rather than install turbines themselves,” he added.
For further details contact James Fulton at Berrys’ Kettering office on 01536 532386 or email James.Fulton@berrybros.com
For more information about Berrys, please visit their website here: www.berrybros.com