One third of farmers (33%) are looking to make investments in renewable energy over the next two years according to research collaborated by Barclays Bank.

Visitors at Livestock 2012 were told that the 82% of farmers looking to invest in renewable energy are motivated by concerns over rising energy costs and many are seeing rising costs the single biggest threat to their business in the next five years.

“Most farmers see a move towards renewable energy as another form of diversification – and rightly so, as it can substantially cut energy costs and create a new revenue,” said Martin Redfearn, Head of Agriculture at Barclays.

“Investment in this relatively new technology is a big step but there is plenty of support out there for farmers who want to know more,” Mr Redfearn added.

Barclays reckoned that for those who have invested or are considering investingin renewables, the favoured forms are solar (51%) and then wind, at 43%. Only 2% chose hydro power while 4% chose ground source and 15% chose biomass.

Tweet