Abundance and ShareSolar have launched a £10 million green cashback scheme for households who adopted domestic solar panels before April 2012. The initiative will mean that solar panel owners can effectively convert their future feed-in-tariff (FiT) payments into a single payment averaging around £11,000. Investors in the project are provided with an effective rate of 6.5 per cent over a 20-year term and it is aims to raise between £400,000 and £1.3 million in its first tranche. Abundance co-founder and joint managing director Bruce Davis said: “The householders benefit from getting a cash sum upfront which they can then invest in battery technology, energy efficiency or maybe an electric car, while still enjoying all the benefits of free green electricity and keeping ownership of their panels. “Investors benefit from a stable long-term income at a rate better than any deposit account pays. It gives both sides a great deal – a real win-win arrangement – while helping to give positive outcomes to all those supporting solar energy.” ShareSolar founder Lawrence Buckley said: “Across the UK there are thousands of home owners who stumped up the cash to buy into the solar revolution. Share Solar lets those pioneers get an early cash back on their investment in a greener future.”  The scheme follows a recent government cut to the FiT for domestic solar of 63 per cent in a bid to cut costs. Source link

©PA Artist impression of the proposed Hinkley Point C station For anyone who thought Britain leaving the EU would mean pivoting closer to China, Theresa May, the new prime minister, has at least a partial answer — not so fast. Her government’s decision to delay approval for the Hinkley Point nuclear power plant this week has implications for Anglo-Chinese relations that reach far beyond the project itself. Already 10 years in the making, the plan was conceived to kick-start a nuclear “renaissance” as old coal-fired plants become obsolete. When the China National Nuclear Corporation (CNNC) and China Guangdong Nuclear Power agreed to take a 33.5 per cent stake, Hinkley assumed additional importance. It was the initiative that cemented the “golden era” of relations proclaimed by the UK and China when Xi Jinping, the Chinese president, visited London last year. This was a central plank in one of the main foreign initiatives of David Cameron’s premiership. It too now appears to be under review as policy is reset at a furious pace by his unelected successor. For all the diplomatic and political ramifications, there have long been economic reasons to question the Hinkley project and whether it marries Britain’s energy needs with ambitious emission reduction targets in the most cost-effective way. Even EDF, the French utility leading the project, is split over the risks it entails. In addition, Downing Street fears that Chinese investment in such a sensitive sector could lay Britain open to future energy blackmail. Historic unease among some Conservatives at the degree to which the UK has turned a blind eye to human issues in China in the quest for commercial opportunity may too have played a part. Delays to the project will be a complicating factor at a time when Anglo-French relations are already under strain. For Paris it is imperative to prove that new technology to be built at Hinkley by EDF is viable after endless problems with reactors under construction in Finland and France. Export orders are also vital for the French nuclear industry at a time when Japan and Germany have both ended their nuclear programmes. For China, the project is no less strategic. If the deal does fall by the wayside, it will be a blow to Beijing’s ambitions. Ditching it would reveal the “golden era” as hyperbole and potentially set back not only UK-China diplomatic ties but also jeopardise other Chinese deals. The blow would be felt in terms of national pride as well as on the bottom line of the CNNC. Securing the Hinkley deal was seen in China as recognition of the country’s burgeoning technological prowess and as a springboard for CNNC to secure similar projects around the world. Any cancellation would also be seen in China as a slap to Mr Xi himself. CNNC is key to the military-industrial complex that forms part of his power base. His strategy of winning diplomatic friends around the world by building them large infrastructure projects would be affected. However, none of these strategic considerations makes the project necessarily a good deal for British taxpayers. When first mooted, Hinkley seemed an attractive proposition. Not only would the electricity produced, at £24 per megawatt hour, be competitive with other power sources. It would also help Britain meet ever tougher emissions targets without too heavy a burden on the public purse. A decade on, the price built into the deal is nearly four times as high. The costs of natural gas, solar and wind power have all been falling. British competitiveness is at stake. For this reason alone, it is prudent to press pause and take another hard look. Copyright The Financial Times Limited 2016. You may share using our article tools. Please don’t cut articles from FT.com and redistribute by email or post to the web. Source link

Comic book fans from Keyline, the UK’s leading specialist supplier of civils and drainage solutions and heavy building materials, have helped to raise a whopping £102,000 for Prostate Cancer UK during a superhero and villain themed car rally from Northampton to St Tropez. Twenty-four cars made up of teams from Keyline’s staff, along with its suppliers, customers and representatives from the charity took part in the rally. Each team picked a superhero and villain theme for the journey across Europe, including favourites such as Thor, Teenage Mutant Ninja Turtles and Batman & Robin. After forming a partnership with Prostate Cancer UK in 2010, Keyline pledged to raise £25,000 in that first year alone. So far, through the fantastic efforts of staff and customers, this partnership has helped to raise more than £1.32 million for the charity. James Beeby, Director of Fundraising at Prostate Cancer UK said: “Despite our car not quite making it back to the UK, the rally was yet again a phenomenal success and I want to thank Keyline and everyone who took part for the incredible amount of money they raised. Currently one man an hour dies from prostate cancer in the UK. That’s 10,900 men a year. Based on current trends, if we ignore prostate cancer and do nothing, this number will rise to over 14,500 men a year by 2026. The money raised through the Keyline Rally is helping us push for real change, from more effective testing to better treatments for men.” Source link