Ramping up its solar activity in the West Midlands, Caplor Energy has this month launched a new solar scheme. By providing a community fund of £100,000 to build solar projects within Herefordshire and Worcestershire, the Fownhope-based company hopes to support local groups interested in installing solar energy systems on community buildings.
By offering a funding pot, Caplor Energy gives interested community groups the chance to install a solar system without having to raise the upfront capital. Caplor will recoup its costs through the feed-in tariff payments while the community building benefits from the free solar energy. Once the system has been paid off, the feed-in tariff payments will go to the community group.
A typical 4kW system under the Community Solar Initiative is expected to deliver savings and an income totalling £20,000 for each community group over the lifetime of the scheme.
Caplor’s Business Development Manager, Jamie Baldwin, explains: “Our vision at Caplor Energy is to lead the way in creating a vibrant and sustainable community. Our business principles are based on targeting economic, environmental and social goals equally. The Community Solar Initiative encompasses perfectly this ‘triple bottom line’ approach.”
“We’ve been really encouraged by the response we’ve had to the first phase of the scheme, and we are now looking to install up to 10 community projects in the coming months.”
Kate Gathercole, Herefordshire New Leaf Co-ordinator, said: “We’re delighted to see that Caplor Energy is taking a lead in supporting communities with renewable energy projects in this way. It’s an innovative scheme that really addresses the main barrier preventing community buildings installing solar systems, which is of course the upfront cost.”
Phase 1 of the Community Solar Initiative has attracted more than 20 interested local charities and community groups.