This revelation is described as a ‘telling finding’ by Professor Donald MacRae, editor of the Bank’s long-running economic bulletin, the latest issue of which includes survey responses from 465 farm businesses. This includes a section on renewable energy production indicating significant investment plans for next year.
“17% of responding farmers have already invested in either wood fuel heating (5%) or wind power (12%),” said Prof. MacRae, who is also the chief economist at the Bank of Scotland. “Investment plans for the next year are significant with 22% of responding farmers indicating they intend to invest in wind power.”
There’s still a gap between intention and achievement, however, with the survey showing that 65% of those who were intending to invest found obtaining planning consent for wind power ‘difficult or very difficult’.
Similarly for hydro power developments, 47% of investors said achieving a grid connection was ‘difficult or very difficult’ while grid connection issues were given a negative mark by 43% of wind power investors.
At least financing came out as a positive with Professor MacRae saying that responding farmers found ‘few difficulties in financing their renewable investment’. This was based on a survey finding that 53% said financing a wind power investment was ‘not difficult or not at all difficult’.
Edie staff