Councils ponder £1.2 billion solar offer
A solar panel maker has said several Yorkshire councils have expressed an interest in fitting its products after it unveiled a £1.2 billion deal.
Barnsley-based Solar Europa has secured the investment from funder AD-ECO. It will use the cash to finance a feed-in tariff scheme fitting panels to housing association and council properties, which it says could benefit 200,000 tenants.
Under the scheme, Solar Europa will fit the panels free of charge, and then take the bulk of the payments from the government’s feed-in tariff. This makes payments for electricity generated from photovoltaic panels, and other low carbon forms of energy generation.
Social landlords will be able to keep a slice of the FIT income, and will have the option of paying some of the upfront costs to secure a greater percentage of the FIT.
A spokesperson for Solar Europa said: ‘The average tenant who has solar panels installed can save as much as 50 per cent off their annual electricity bill and that saving can make a massive difference to the lives of many householders across the country.’