Renewable Energy News

Exported Wind Electricity

Wind Turbines generate electricity that can used in your home or premises.

Excess electricity can be exported back onto the grid and most electricity suppliers will buy this electricity from you.

The rates that are being paid are improving all the time. Many supplier will now a similar amount to the import rate for the electricity you export, currently around 10p/kWhr.

What many people don't know is that in 2002 another parallel scheme was launched that will encourage suppliers to pay an additional amount of money for this electricity.

ROCs

A Renewables Obligation Certificate (ROC) is a green certificate issued to an accredited generator (the home or business owner) for renewable electricity generated. One ROC is issued for each megawatt hour (MWh) of eligible renewable output generated. This means that you get one ROC for each 1000kWhrs of electricity generated.

The scheme is designed to incentivise renewable energy generation in the UK. When the scheme was formulated an obligation was placed on the electricity suppliers to obtain an proportion of their energy from renewable sources. In 2005-06 this target was 5.5 per cent and in 2006-07 the obligation was set at 6.7 per cent.

If the electricity companies do not have enough ROCs they have to pay the other suppliers who do have enough. This means that the suppliers want to buy your ROCs to avoid being penalised.

The payment depends on the supplier but they typically pay around £30-£40 per ROC. This means that every unit of electricity generated is worth about 30-40 per cent more.

The scheme is planned to run until 2027.

This means that Wind Turbines may payback quicker than you think!

Labels: Wind-Turbines