As many as 9m microgeneration units such as solar panels and wind turbines could be in place within 12 years if the Government provides the financial and legal support.
They could produce as much energy as five large new nuclear power stations and by 2030 would be saving as much carbon as if all HGVs and buses were taken off the road.
The independent report, prepared for the Government, is claimed to be the largest piece of independent consumer research ever conducted into the market potential of microgeneration.
Its publication led to calls for the Government to bring forward strong policy measures underpinned by legally binding Government targets to encourage people to switch to mass-produced sustainable energy schemes.
Currently there are about 100,000 home energy installations but this could increase to 9m by 2020 if consumers are given a financial incentive and the confidence to make the switch.
Legally binding Government targets for microgeneration, backed up by concrete policy measures, would also encourage investment in the market, the report says.
Small-scale energy units would include solar panels, wind turbines, combined heat and power boilers, and ground and air source pumps.
It says take-up could be boosted by so called feed-in tariffs - allowing householders to sell any electricity they do not need in their own home to the big energy companies at a fixed price.
By Paul Eccleston
full article
Monday, 2 June 2008
Ten easy ways to drive down your petrol costs
1. Find your cheapest station. Go to www.petrolprices.com to find the cheapest fuel in your area. It covers 9,704 petrol stations and has 8,000 daily updates. The difference between the most expensive and the cheapest price per litre can be as much as 15 pence.
2. Pump up your tyres. Under-inflated tyres create more rolling resistance and so use more fuel. Go to your local petrol station and use their pump – it is normally free.
3. Lose weight. Every extra 50kg will increase your petrol consumption by an average of 2 per cent, according to www.save-petrol.co.uk. So keep all your golf clubs – or anything else littering your boot – at home.
4. Streamline. Roof racks and bicycle carriers create extra wind resistance and so increase fuel consumption. If you do not need it, take it off.
5. Turn off the air-conditioning. It increases your petrol consumption by as much as 10 per cent – so if it is only mildly warm, put the fans on or wind down your window. That said, if you are travelling over 60mph having the window down increases drag which increases your fuel consumption – so air conditioning would be better.
6. Stick to the limits. The faster you go, the more fuel you use. Driving at 70mph uses up to 9 per cent more fuel than at 60mph and up to 15 per cent more than at 50mph, according to the Department of Transport.
7. Change your oil. Clean oil reduces the wear caused by friction of moving engine parts, helping to improve fuel consumption. You should change the oil in a petrol car once a year or every 7500 miles. For a diesel engine it is recommended you change the oil every 6 months or 3000 miles.
8. Drive Smoothly. Acceleration and deceleration is what uses most fuel – so try to slow down gradually at lights, avoid heavy braking and try not to rev too much.
9. Avoid rough surfaces. Gravel or heavy dirt surfaces can increase your fuel consumption by up to 30 per cent – not to mention the affect on your paintwork. If there is a route involving smooth tarmac, even if it is slightly longer, then take that.
10. Rather obviously… use your car less. Combine short trips – such as buying the paper, dropping-off the recycling, or collecting the kids – rather than making multiple short trips.
By Lauren Thompson
full article
2. Pump up your tyres. Under-inflated tyres create more rolling resistance and so use more fuel. Go to your local petrol station and use their pump – it is normally free.
3. Lose weight. Every extra 50kg will increase your petrol consumption by an average of 2 per cent, according to www.save-petrol.co.uk. So keep all your golf clubs – or anything else littering your boot – at home.
4. Streamline. Roof racks and bicycle carriers create extra wind resistance and so increase fuel consumption. If you do not need it, take it off.
5. Turn off the air-conditioning. It increases your petrol consumption by as much as 10 per cent – so if it is only mildly warm, put the fans on or wind down your window. That said, if you are travelling over 60mph having the window down increases drag which increases your fuel consumption – so air conditioning would be better.
6. Stick to the limits. The faster you go, the more fuel you use. Driving at 70mph uses up to 9 per cent more fuel than at 60mph and up to 15 per cent more than at 50mph, according to the Department of Transport.
7. Change your oil. Clean oil reduces the wear caused by friction of moving engine parts, helping to improve fuel consumption. You should change the oil in a petrol car once a year or every 7500 miles. For a diesel engine it is recommended you change the oil every 6 months or 3000 miles.
8. Drive Smoothly. Acceleration and deceleration is what uses most fuel – so try to slow down gradually at lights, avoid heavy braking and try not to rev too much.
9. Avoid rough surfaces. Gravel or heavy dirt surfaces can increase your fuel consumption by up to 30 per cent – not to mention the affect on your paintwork. If there is a route involving smooth tarmac, even if it is slightly longer, then take that.
10. Rather obviously… use your car less. Combine short trips – such as buying the paper, dropping-off the recycling, or collecting the kids – rather than making multiple short trips.
By Lauren Thompson
full article
Sunday, 1 June 2008
Greener power to the people: the real energy alternative?
Ministers could avoid building nuclear reactors by encouraging families to fit solar panels and other renewable energy equipment to their homes, a startling official report concludes.
The government-backed report, to be published tomorrow, says that, with changed policies, the number of British homes producing their own clean energy could multiply to one million – about one in every three – within 12 years.
These would produce enough power to replace five large nuclear power stations, tellingly at about the same time as the first of the much-touted new generation of reactors is likely to come on stream.
And, it adds, by 2030, such "microgeneration" would save the same amount of emissions of carbon dioxide – the main cause of global warming – as taking all Britain's lorries and buses off the road.
The conclusions of the report – approved and partly financed by the Department of Business, Enterprise and Regulatory Reform (DBERR) – sharply contrast with initiatives hurriedly launched by Gordon Brown last week in reaction to the lorry drivers' fuel-price protests.
In his most pro-nuclear announcement to date, the Prime Minister indicated that he wanted greatly to increase the number of atomic power stations to be built in Britain. And he met oil executives in Scotland to urge them to pump more of the black gold from the North Sea's fast-declining fields – even though his own energy minister, Malcolm Wicks, admitted that this would do nothing to reduce the price of fuel.
full article
The government-backed report, to be published tomorrow, says that, with changed policies, the number of British homes producing their own clean energy could multiply to one million – about one in every three – within 12 years.
These would produce enough power to replace five large nuclear power stations, tellingly at about the same time as the first of the much-touted new generation of reactors is likely to come on stream.
And, it adds, by 2030, such "microgeneration" would save the same amount of emissions of carbon dioxide – the main cause of global warming – as taking all Britain's lorries and buses off the road.
The conclusions of the report – approved and partly financed by the Department of Business, Enterprise and Regulatory Reform (DBERR) – sharply contrast with initiatives hurriedly launched by Gordon Brown last week in reaction to the lorry drivers' fuel-price protests.
In his most pro-nuclear announcement to date, the Prime Minister indicated that he wanted greatly to increase the number of atomic power stations to be built in Britain. And he met oil executives in Scotland to urge them to pump more of the black gold from the North Sea's fast-declining fields – even though his own energy minister, Malcolm Wicks, admitted that this would do nothing to reduce the price of fuel.
full article
Saturday, 31 May 2008
How to win the battle against the soaring price of fossil fuel
Cutting your petrol costs
The easiest way to cut your fuel costs is to use your car a little less. Cycling and walking won't cost you anything (or, at least, a lot less in the case of cycling), and even public transport is likely to prove better value than jumping in your motor. However, for the millions of people who have no choice but to continue using their vehicles, there are a few easy ways to try and combat rising fuel prices.
A visit to www.petrol prices.com is a good start. This is a free site, which helps you track down the cheapest petrol prices in your area, and also lets you know just how much more you could be paying if you drive into the wrong petrol station. In south London, for example, it's possible to pay as much as 135.9p for a litre of diesel, or as little as 122.9p – a saving of around £5 for every tank.
Another way to cut your fuel bills is to make sure you sign up to the loyalty schemes of any fuel companies that you regularly use. Most of the major petrol station owners, such as Shell, BP and Esso offer loyalty schemes that will reward you with points every time you shop with them. These can then be redeemed for money off your petrol in future.
Another option is to pick yourself up a credit card that pays cashback, and make sure that you pay for all your petrol using the card. American Express's Platinum card, for example, will pay you 5 per cent cashback on all purchases for the first three months, and then between 0.5 and 1.5 per cent on purchases thereafter – depending on how much you spend on the card each year.
If you regularly buy your petrol from Shell garages, it's also worth considering the Citibank Shell Mastercard, which pays you 3 per cent back on all fuel purchases made at Shell stations, and 1 per cent on all other purchases.
If you drive a very long distance each year, it may also be worth signing up to one of the fuel providers' business accounts. Sites such as www.forecourtfuelcards.co.uk allow individuals who consume more than 250 litres of diesel each month to sign up to these plans, which can save you up to 3p a litre.
Finally, if you've got a diesel car that's 20 years old or more, there's a good chance you can get it to run on vegetable oil, which you should be able to pick up for as little as 10p a litre from a local restaurant.
Cut your energy bills
If you haven't reviewed your energy situation for a few years, there are a few things you can almost certainly do to save money. Siobhan Parker of switchwithwhich .co.uk points out that receiving quarterly bills and paying by cheque are about the most expensive way of dealing with your energy costs. However, if you switch to a monthly direct debit, and manage your bills online, you can save yourself tens of pounds in charges.
Better still, regularly updating your meter readings online ensures you don't get any nasty surprises, and are always being billed for what you've used.
Next, it's worth checking to see whether you could get a better deal with a different supplier. In most areas of the UK, you should get the choice of a handful of different electricity and gas companies. And, says Parker, there are greater savings to be made if you buy your gas and electricity from the same provider.
If you're worried about oil and gas prices climbing even further, another step you can take is to plump for one of the fixed or capped rate tariffs which most energy providers now offer.
As the name suggests, capped tariffs allow you to benefit from any falls in energy prices, while ensuring that you won't ever pay more than a pre-determined amount if prices continue rising.
Both fixed and capped rates run for a specific time period – usually two or three years – but, Parker says, consumers will usually have to start off paying as much as 25 per cent more than the regular rate at the start of the contract. If prices continue to rise, you'll be in the money. But if they fall, you could find yourself worse off than you would have been. The premium on capped and fixed rates is the price of peace of mind.
Websites such as switchwithwhich.co.uk, uswitch.com and moneysupermarket.com allow you to compare the different tariffs offered by competing providers in your area.
Finally, if you really want to work on cutting your energy bills, then there are a number of things you can do to make your home more energy efficient. Some of these will require a short-term investment – such as insulating your walls or installing double-glazing – while others are just common sense, such as turning lights off and not leaving appliances on stand-by. For more details on ways to make your home more energy efficient, visit www.energysavingtrust.org.uk.
Hedging your exposure
Another way to mitigate the rising cost of oil is to invest in it. There are a number of different ways to do this, the easiest of which is to buy an exchange traded fund from the likes of ETF Securities (www.etfsecurities.com). These will allow you to track the oil price, and grow your money if it continues to rise.
However, given the rises in oil that we have already seen, a direct investment could be a risky bet. If you're simply looking to offset the effects of any further rises in the price, a better way to hedge your future exposure would be to take a "leveraged" bet on the oil price. For example, ETF Securities' leveraged ETFs will earn you 2 per cent for every 1 per cent rise in the price of oil. This means that you can put less of your money at risk for the same potential return.
Alternatively, you could invest in covered warrants or use spread betting to hedge your oil exposure. These options are much more highly leveraged, meaning you need to invest only a small amount of money to make a relatively large return if the oil price rises. Obviously, if the price falls, you could lose some or all of your money, but if you look at it as buying insurance against the rising cost of oil, it can certainly make good sense.
full article
The easiest way to cut your fuel costs is to use your car a little less. Cycling and walking won't cost you anything (or, at least, a lot less in the case of cycling), and even public transport is likely to prove better value than jumping in your motor. However, for the millions of people who have no choice but to continue using their vehicles, there are a few easy ways to try and combat rising fuel prices.
A visit to www.petrol prices.com is a good start. This is a free site, which helps you track down the cheapest petrol prices in your area, and also lets you know just how much more you could be paying if you drive into the wrong petrol station. In south London, for example, it's possible to pay as much as 135.9p for a litre of diesel, or as little as 122.9p – a saving of around £5 for every tank.
Another way to cut your fuel bills is to make sure you sign up to the loyalty schemes of any fuel companies that you regularly use. Most of the major petrol station owners, such as Shell, BP and Esso offer loyalty schemes that will reward you with points every time you shop with them. These can then be redeemed for money off your petrol in future.
Another option is to pick yourself up a credit card that pays cashback, and make sure that you pay for all your petrol using the card. American Express's Platinum card, for example, will pay you 5 per cent cashback on all purchases for the first three months, and then between 0.5 and 1.5 per cent on purchases thereafter – depending on how much you spend on the card each year.
If you regularly buy your petrol from Shell garages, it's also worth considering the Citibank Shell Mastercard, which pays you 3 per cent back on all fuel purchases made at Shell stations, and 1 per cent on all other purchases.
If you drive a very long distance each year, it may also be worth signing up to one of the fuel providers' business accounts. Sites such as www.forecourtfuelcards.co.uk allow individuals who consume more than 250 litres of diesel each month to sign up to these plans, which can save you up to 3p a litre.
Finally, if you've got a diesel car that's 20 years old or more, there's a good chance you can get it to run on vegetable oil, which you should be able to pick up for as little as 10p a litre from a local restaurant.
Cut your energy bills
If you haven't reviewed your energy situation for a few years, there are a few things you can almost certainly do to save money. Siobhan Parker of switchwithwhich .co.uk points out that receiving quarterly bills and paying by cheque are about the most expensive way of dealing with your energy costs. However, if you switch to a monthly direct debit, and manage your bills online, you can save yourself tens of pounds in charges.
Better still, regularly updating your meter readings online ensures you don't get any nasty surprises, and are always being billed for what you've used.
Next, it's worth checking to see whether you could get a better deal with a different supplier. In most areas of the UK, you should get the choice of a handful of different electricity and gas companies. And, says Parker, there are greater savings to be made if you buy your gas and electricity from the same provider.
If you're worried about oil and gas prices climbing even further, another step you can take is to plump for one of the fixed or capped rate tariffs which most energy providers now offer.
As the name suggests, capped tariffs allow you to benefit from any falls in energy prices, while ensuring that you won't ever pay more than a pre-determined amount if prices continue rising.
Both fixed and capped rates run for a specific time period – usually two or three years – but, Parker says, consumers will usually have to start off paying as much as 25 per cent more than the regular rate at the start of the contract. If prices continue to rise, you'll be in the money. But if they fall, you could find yourself worse off than you would have been. The premium on capped and fixed rates is the price of peace of mind.
Websites such as switchwithwhich.co.uk, uswitch.com and moneysupermarket.com allow you to compare the different tariffs offered by competing providers in your area.
Finally, if you really want to work on cutting your energy bills, then there are a number of things you can do to make your home more energy efficient. Some of these will require a short-term investment – such as insulating your walls or installing double-glazing – while others are just common sense, such as turning lights off and not leaving appliances on stand-by. For more details on ways to make your home more energy efficient, visit www.energysavingtrust.org.uk.
Hedging your exposure
Another way to mitigate the rising cost of oil is to invest in it. There are a number of different ways to do this, the easiest of which is to buy an exchange traded fund from the likes of ETF Securities (www.etfsecurities.com). These will allow you to track the oil price, and grow your money if it continues to rise.
However, given the rises in oil that we have already seen, a direct investment could be a risky bet. If you're simply looking to offset the effects of any further rises in the price, a better way to hedge your future exposure would be to take a "leveraged" bet on the oil price. For example, ETF Securities' leveraged ETFs will earn you 2 per cent for every 1 per cent rise in the price of oil. This means that you can put less of your money at risk for the same potential return.
Alternatively, you could invest in covered warrants or use spread betting to hedge your oil exposure. These options are much more highly leveraged, meaning you need to invest only a small amount of money to make a relatively large return if the oil price rises. Obviously, if the price falls, you could lose some or all of your money, but if you look at it as buying insurance against the rising cost of oil, it can certainly make good sense.
full article
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