Alternative energy firm Winch Energy's Power Your Future programme has secured funds for a further 3MW of PV installations under its schools solar initiative, ‘Power Your Schools’.
The programme is set to continue throughout 2014, with funds from the subsidiary of global clean energy company CBD Energy Limited, Secured Energy Bonds (SEB), who has provided finance.
The financial system means schools receive solar energy at no cost, the installations, insurance and maintenance of the array is taken care of by investors, so schools receive energy at a discounted rate.
Already 2.57MW has been installed across 100 UK schools as part of the programme, which also helps educate students about renewable energy.
SEB chairman, Gerry McGowan said: “Solar power is beneficial for both the local economy and the economy at large”
McGowan described the programme as “an excellent opportunity for people to make a socially responsible investment in new green energy projects, and to play their part in building a greener, cleaner future.”
Maria Wrigley, chief executive of Power Your Future, said: “With diminishing feed in tariffs gaining funding for our schools programme has become more challenging so aligning with SEB is great news and offers the security to continue offering schools access to solar energy”.
As high energy prices are an increasing concern for UK schools, the programme allows schools to “ring-fence a proportion of their electricity costs in a way that reduces their carbon footprint and provides a valuable tool for promoting sustainable education,” said Wrigley.
Earlier this year, Power Your Future celebrated its 100th installation of the programme.