Recent major falls in the price of oil, and to a lesser extent gas, has made headlines suggesting that this might spell the end of the need for renewables. However, it was only one year ago that ‘experts’ predicted oil at $200 per barrel. Nobody forecast today’s $60 barrel. This amply demonstrates the volatility of the fossil fuel market. Although many businesses will welcome a temporary reduction in fuel costs, Carbon Zero Consulting would not recommend building your long term strategy around an endless supply of cheap fossil fuel!
The number of projects considering Ground Source Heat Pump (GSHP) technology is on the rise. There is no doubt that a well-designed GSHP scheme provides the most efficient means to obtain renewable heating and cooling. With RHI payments for Biomass (of 199kW and less) reducing again in January; the returns from GSHP installations looks very inviting. Heat pump technologies maximise the delivery of heat (and cool) for a given amount of input power. Power stations producing low-carbon electricity to drive heat pumps in every home and business is how we should see the future in the UK – not hopeful gambling on the price of oil!