Shropshire Farming Talk: Unlocking the future – Agricultural insurance for renewable energy ventures
As farmers continue to adapt and innovate in the face of changing agricultural landscapes and sustainability imperatives, diversification into renewable energy has emerged as a promising avenue.
Farmers who ventured into renewable energy diversification (Defra Figures from 2021/2022) found it to be among the most lucrative activities, second only to leasing out buildings. The combination of solar energy and other renewable ventures, like power generation, contributed significantly, bolstering Farm Business Income by £14,300.
Diversification into renewable energy not only complements on-farm activities but also plays a pivotal role in enhancing environmental stewardship, financial sustainability and economic viability.
Diverse ventures, from anaerobic digestion (AD) plants to land leasing for battery and generator sites and the cultivation of crops for the biofuels market present new opportunities but also unique challenges and risks.
These innovative pursuits hold not only the promise of individual farm sustainability but also contribute to the broader transition to sustainable agriculture and energy systems.
With the right insurance coverage in place, farmers can embark on these transformative journeys with the confidence that they are protected against unforeseen challenges and can reap the rewards of a more sustainable and prosperous future.
If you're enthusiastic about investing in renewables and environmental sustainability, our renewable energy insurance is tailor-made to safeguard you throughout the entire journey, mitigating potential risks from inception to completion.
Keith Fowles is the owner of KLF Insurance Brokers.