Kettering-based Street Energy is launching a new scheme offering free PV systems for over 500 Midlands homes.
The arrangement will see Street Energy utilise the ‘roof lease’ model, whereby it will receive the benefits of the Government’s feed-in tariff (FiT) in exchange for installing the 2.8kW systems at no cost to the homeowner. By leasing their roof for 25 years, homeowners will have free use of the electricity generated, resulting in annual savings of up to £320. Street Energy has also agreed to maintain the systems for all 25 years and also to provide free wireless output displays to help customers manage the systems’ electrical output.
Funding for the scheme is coming from leading renewable project investor Santander Corporate Banking.
“The launch of our free solar scheme is a major milestone for Street Energy and will enable us to offer our customers the benefit of reduced electricity bills at absolutely no cost to them,” Street Energy’s managing director, Nigel Street, said. “In addition to the free electricity, solar PV is the cleanest renewable energy technology and our customers will therefore be helping the UK achieve its long term CO2 reductions targets”
“We are pleased to be working with Street Energy on this project to provide free solar PV systems in the Midlands region. Street Energy has a long track record in the energy saving sector and we look forward to a successful roll-out of this programme,” Howard Whitehead, head of renewable energy at Santander UK added.