At Mason Gillibrand Environmental we’ve found that the recent falling oil prices haven’t weakened interest in renewable technologies such as biomass, heat pumps and solar. In fact, as many of our projects are ‘out in the sticks’ we often find they are off-grid anyway. Many years ago oil was the answer, but I’m happy to report that I can’t remember the last time an oil-fired boiler was installed in one of our projects!
The price of oil may be low at the moment, but historically it is notoriously volatile and it’s not unreasonable to assume the price of oil could rise just as quickly as it has fallen. Clients considering renewable solutions often look several years ahead as part of a long-term picture and factors such as lower running costs, plus the government’s Renewable Heat Incentive (RHI) scheme, often influence decisions nowadays. Clients, like us, are increasingly attracted by green energy credentials and believe in the sustainability and stability of renewables.
There are many factors influencing the future of renewables when competing against oil, but it is worth remembering the government has introduced policies committed to promoting renewable technologies and that renewables, by their very nature, will prove more stable over the long term whereas fossil fuels will not last forever.