Secretary for energy and climate change Ed Miliband told MPs the Energy Bill would be amended to introduce “feed-in-tariffs”. The system enables micro-generation projects to sell any excess energy back to the grid at a competitive rate, therefore speeding up return on investment.
He said changes to the climate were “happening much quicker than we anticipated or even feared a few years ago” and that it was “right to step up the pace”.
The decision is a u-turn for the Government, which in April voted against Labour rebels who campaigned to introduce the scheme. It forms part of a drive to cut greenhouse gas emissions by 80 per cent by 2050.
Those retailers that are already generating their own renewable fuel include Tesco, Sainsbury’s, Marks & Spencer and the John Lewis Partnership.
See today’s Retail Week for analysis of renewable energy opportunities for retailers.
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