A recent project completed by not-for-profit energy supplier Ebico has sparked a new initiative in which the employees of a workplace can invest in the protection of the environment whilst gaining a reasonable return.
How you ask? By funding the installation of solar PV panels on the rooftop of their employer’s facilities!
The new 50 kilowatt solar array, situated at the Eden Project (a social enterprise in the form of a visitor attraction located in Cornwall) has just become the UK’s first employee owned renewables installation.
So how does it work?
Ebico, operating through its subsidiary entitled Social Ventures in Energy (SVE), worked in partnership with the Eden project in the creation of a new enterprise to install two medium-sized rooftop PV arrays.
As part of the project, employees of the Eden Project are now eligible to ‘buy into’ the renewable energy facility for as little as £200 with investors splitting the share in the feed-in tariff income for the next 25 years.
Who does this benefit?
Phil Levermore, the Managing Director of Ebico has stated his belief that this new scheme could overcome some of the major barriers to investment in solar initiatives that UK employees are concerned by:
“There is good evidence to suggest that once people have a financial interest in renewable energy, acceptance of these technologies increases.”
Employees of the Eden Project who perhaps see the potential of the ROI associated with an investment in renewable energy but cannot afford the installation of PV panels on their own property will value this viable business opportunity.
Plus, with enough return over a period of time, these same employees may consider the installation of their own PV panels further down the line.
Organisation with large business facilities who are daunted by the high up-front costs of the installation of a solar array to power their offices could become tempted. After all, with our recent blog posts regarding the corporate social responsibility strategies of Google and Apple – going green seems to be the ‘done thing’ in terms of reputation.
However, let us not forget the all-important improvement that projects like this will have on the environment. Let’s hope that the Eden Project employee facilitated solar array is the start of a new avenue for renewable energy.
Would you like to install your own personal PV panels on your property and gain ROI?
Call us today on 0800 369 8980 for a PV quote!