Advisers back renewable energy but hampered by knowledge gap – Albion
Nearly three in five (58%) IFAs have ‘below average’ or ‘weak’ knowledge of renewable energy investment schemes, Albion Community Power’s latest study revealed.
Nearly three-quarters (71%) of advisers are backing renewable energy investment given the inflation protection it provides, according to a study commissioned by Albion Community Power (ACP), a power generation company launched by Albion Ventures.
The study, which contributed to highlight a lack of knowledge among advisers, also showed that while the majority are familiar with solar and wind energy, three quarters (75%) were unfamiliar with biomass, 74% with biogas and 64% with hydro-electricity.
Alongside with the survey, ACP also released the news that it is looking to raise up £100m funds from retail investors and family offices.
The company will invest in a range of renewable energy projects using proven technologies including brownfield wind, solar, hydro-electricity, biogas and biomass.
David Gudgin, head of Renewables at Albion Ventures said, “Our research shows that advisers are under no illusion of the growing importance of renewable energy as an investment opportunity given the inflation protection benefit it provides. However, there is a clear ‘knowledge gap’ regarding the range of renewable energy investment schemes available to investors. More needs to be done by the industry as a whole in generating awareness of this sector.
“ACP offers investors a compelling opportunity to capitalise on the UK’s transition towards clean energy production. Albion already has a strong track record in managing successful renewable energy projects using proven technologies such as brownfield wind, solar and hydro and we are well placed to develop ACP into a winning proposition.”