For years, renewable energy companies have had to suffer the negative effects of unpredictable fossil fuel prices. And with the recent drop in crude oil prices falling below $50 a barrel for the first time since 2009, the cost of a litre of heating oil is now less than 32p.
Although this comes as good news to homeowners when compared to three years ago many were paying upwards of 75p per litre of heating oil, it has brought to light concerns in the renewable energy industry. If oil is becoming more affordable, will fewer people consider renewable technologies? We don’t think that’s the case.
Many heating schemes are targeted to those living in rural communities. On average, it is estimated that a 3 bed home in a rural area will incur costs 60% higher than a same-size home in an urban location using natural gas. Plus, oil is a common choice in rural areas where mainline gas just isn’t an option.
It can be difficult for homeowners to budget for heating costs during winter when fuel prices fluctuate. Some homeowners and businesses are instead choosing renewable biomass technology, meaning they can make the move from fossil fuel dependency.
Renewable energy companies, like Robinsons MEA are able to offer heating solutions to a wide range of homes and businesses. We will recommend the best heating system for your needs, whether it be renewable or traditional gas /oil / LPG. We’re also one of the few OFTEC accredited commercial installers in the region.
For more information on renewable technologies or oil boilers, please get in touch today.