Solarcentury and Abundance unite to launch crowdfunding investment offer
Solarcentury has teamed up with ethical investment platform Abundance Generation to enable businesses to benefit from cheap solar energy through crowdfunding.
Solarcentury is now building and owning commercial and industrial solar rooftop projects; allowing businesses to deploy rooftop solar installations at no capital outlay and benefit from locally-generated solar electricity for a fixed price over 20 years, cutting costs and making firms less reliant on fossil fuels.
The new partnership with Abundance will enable businesses to give their stakeholders the chance to invest directly in the projects, in line with the company’s recently announced ‘shared ownership’ service to encourage community investment in local renewable energy projects.
Solarcentury chief executive Frans van den Heuvel said: “With 27 billion sq.ft of south-facing commercial roof space available in the UK, there is a huge opportunity for businesses to make money by leasing their unused roof space to Solarcentury and buying the cheaper solar electricity generated by the solar installation.
“Taking control of energy costs is becoming a significant concern for businesses, especially high energy users worried about how rising energy prices will affect their competitiveness. Now, through Abundance, businesses can also ‘share the wealth’ by giving employees, customers and people in their local communities the opportunity to invest in the solar projects.”
DECC figures show that businesses in the UK face an estimated 60% increase in the industrial price of electricity in real terms by 2024.
Abundance co-founder and joint managing director Louise Wilson said: “Using solar electricity is a great way for businesses to offset their energy bills, since solar electricity is cheaper than grid electricity.
“In addition, businesses can offer their stakeholders and customers the opportunity to generate a long-term income and ultimately, do their bit in helping to create a more sustainable environment for future generations.
“We know this will be an attractive offer because our research shows that 62% of people in Britain want to choose exactly where their money is going to get a return and 57% want to invest in things that give a decent return but don’t harm the planet.”