Kingspan launches fully-funded solar PV scheme for businesses

Kingspan has announced the launch of Kingspan Energy, a new arm of the company that will provide fully-funded solar PV installations for business customers.

Kingspan Energy will be offering 100% funded solar installations for no upfront cost, in return the company will lease the customer’s roof space for 25 years, receiving the associated subsidy payments for the array as well as selling the host the electricity generated.

Kingspan believes that the ‘free solar’ model suits businesses perfectly as recipients can benefit from consuming lower cost electricity at a predicted price with no capital risk.

Gilbert McCarthy, managing director of Kingspan Inuslated Panels explained: “We’ve launched Kingspan Energy to allow businesses and building owners the opportunity to maximise the use of their roof space to generate rooftop power for their own benefit, thus reducing their energy costs and enhancing the value of their property without the need for any upfront capital outlay. More importantly, because of our expertise as building envelope market leaders, we can offer a comprehensive guarantee, making the proposition virtually risk-free for UK businesses with suitable roof space.”

Kingspan Energy will assess, design, project manage, install and maintain any PV array installed under the scheme. The company notes that solar arrays can be installed on a wide range of industrial and commercial buildings, including both metal and membrane roofs. All systems installed by Kingspan Energy will be guaranteed for 25 years with lifetime monitoring and maintenance.

As the electricity generated by a potential solar array is offered at lower rates than the grid, Kingspan Energy believes that its free solar installs will appeal to finance directors who can future-proof their business against escalating energy bills and provide a degree of certainty over the price of their energy in the future.

The plan marks a further move into the solar PV market by Kingspan, which recently worked as one of the National Solar Centre’s founding partners.