SunGift teams up with Renewable Energy Investment (REI) for Solar Power Purchase scheme
SunGift is now offering our commercial customers the chance to install medium and large-scale solar PV arrays – with zero upfront capital investment. How can we do this? Well, we’ve teamed up with finance specialists Renewable Energy Investment (REI), which means we can offer you a Solar Power Purchase scheme, giving businesses the chance to lower their ever-increasing energy bills and their carbon footprints.
“This is a great scheme for many of our customers who have thriving businesses but don’t have the capital floating around to opt for renewable energy,” said SunGift’s Gabriel Wondrausch. “We’re continually seeing price hikes for electricity, which means companies’ overheads are constantly going up, but this new scheme means that they will have control and certainty over their electricity costs.
The 20-year contract means REI finances and SunGift designs and installs the PV system so that businesses have no up-front costs and pay only for the monthly cost of the solar electricity used (charged at a tariff significantly below the market rate). While utility tariffs continue to rise, the costs of the solar electricity generated is index-linked, so businesses will have greater certainty about their energy costs regardless of market fluctuations.
REI owns and maintains the PV system and receives the Feed-in Tariff (FIT) for the 20 year lifetime of the FIT payments. After 20 years ownership of the PV system transfers to the business, who then gets the free electricity from it for the remainder of its life.
REI’s calculations indicate that a typical 50kW solar PV system installed under this scheme will see customers save around £2,500 on their electricity bill in the first year of the system production, about £96,000 over the 20 year term of the agreement, and approximately an additional £250,000 over the following 15 years.
Commercial solar PV event
SunGift will be holding a commercial solar PV event in Exeter in the Autumn for businesses interested in solar PV. The event will include an optional tour of the 250kW PV system that we installed at the Met Office last year. More details will be released soon, so if you are interested in attending, please register your interest in advance by calling us on 01392 213912 or email us on firstname.lastname@example.org.