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One third of farmers are looking to invest in renewables over the next two years as they hope to reduce the impact of rising energy costs.
According to the survey by Barclays, 31 per cent of farmers expect the move towards renewable to bring in an income between £5,000 to £20,000 a year, offsetting increasing expenditure.
Martin Redfearn, head of agriculture at Barclays, said: “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 new revenue.”
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