US renewable energy developer and manufacturer, SunEdison, is to offer a zero-down solar offering for the UK residential market that it claims can reduce customers' bills by 15%.
The company will offer residential customers fixed electricity tariffs for 20 years, with an annual increase of 3.5%. The company claims the average annual increase in the last decade has been 8%.
SunEdison will work with installation partners and will offer a performance guarantee for the system lasting the duration of the contract.
“The new SunEdison Energy Saver Plan represents a step-change that revolutionises access to solar for UK homeowners,” claimed Mark Babcock, vice president, SunEdison residential and small commercial Europe. “To simplify the process of going solar, we've removed the biggest barrier – the upfront purchase cost. This means that from day one, customers can save money. We anticipate high demand for this no cost way to save money immediately. We believe everyone should have access to solar energy and we are paving the way for this to happen.”
The zero-down model is similar to that used to great success in the US by installers such as SolarCity.
The 20-year power purchase agreements (PPAs) will also be made available for commercial rooftop installations. This offering sets the company in direct competition with the UK’s Lightsource Renewable Energy, which offers a PPA at 5p per kWh for commercial rooftop customers.