Businesses 'need to embrace renewable energy'

30 Jul 2010
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Businesses have been told that they will need to embrace renewable energy sources such as solar power and wind power in the future.

According to Andrew Charlesworth, journalist at advice website, this is because energy prices are set to rise, which could cause financial issues for firms.

He explained that there is no alternative to using renewable energy, because nothing else offers such a great return on the initial investment.

"Green is economically efficient. If you put money into things like energy conservation, insulation, you can get returns of 15 per cent on your investment," he said.

Mr Charlesworth pointed out that this far outstrips the economical benefits of any savings account.

He was speaking after the European Commission revealed earlier this month that more than half of the new electricity generation capacity installed in the EU came from renewable energy sources.

This share was found to be up to 62 per cent from 57 per cent when similar research was conducted in 2008. 

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