Share Solar offers cashback to early adopters of solar PV and Feed-in Tariff
Posted by Alex Barrett on 17 June 2016 at 12:05 pm
“Share Solar” is a new scheme from Abundance, a company that promotes itself as an “ethical investment platform”. They are offering a cashback scheme for early adopters of solar photovoltaic (Solar PV) technology. The investment company will buy the rights to the Feed-in Tariff (FiT) payments for a large number of early solar PV installations. Households who opt into the scheme will get a lump sum equivalent to their future Feed-in Tariff payments.
The scheme is open to households in England who had solar panels installed before the FiT rate decreased in April of 2012. Abundance point out that this means their investors will be getting return from systems that have been operating for several years, and so are proven to be reliable. Households will continue to get free electricity, and will benefit from regular maintenance of their systems. The company hopes that the money that households gain from the cashback scheme will then be invested in battery technology, or other renewable energy equipment, thus creating a “virtuous circle”.
Abundance’s investors will gain the benefits of the Feed-in Tariff payments, getting a continual return for their investment over the life of the Solar PV system. Since these systems are expected to continue generating for the next twenty years this is a long term investment. The upfront payment is expected to average around £11,000 while investors can expect a regular return on their investment for many years to come.
More information about the scheme can be found on Abundance’s website.
STOP PRESS: New YouGen member, Just Energy Solutions, has just alerted us to their own Solar Buyback Solutions offer which they say was, in fact, 'the UK's first solar PV buying service.' It works along similar lines by enabling owners of domestic or commercial PV arrays to sell their systems for a lump sum whilst continuing to benefit from the free electricity the system delivers.
- Abundance: Share Solar
- Abundance Blog: Share Solar - a new approach for income investors
- See news renewables.
- British Photovoltaic association.
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