• Free installation as part of a Solar Power Purchase Agreement (SPPA)
The roof on MoneySupermarket’
Worth £90,000, the installation was provided free of cost to MoneySupermarket as part of a Solar Power Purchase Agreement (SPPA) with iGen Energy Ltd, a company providing renewable energy solutions to companies and house builders throughout the UK.
Many companies choose to invest in renewable energy, but iGen Energy Ltd’s Solar Power Purchase Agreements SPPAs) offer businesses a different solution that enables them to meet their electricity needs without any capital investment. iGen Energy owns, installs, maintains and monitors the Solar PV system at no cost to the building owner, who also benefits from cheaper, green electricity. iGen Energy Ltd purchases the system’s electricity output for a predetermined period, gaining financial benefits via the Feed-in Tariff (FiT), a Government-backed measure that guarantees a fixed income for every kilowatt hour of electricity created through renewable sources of energy, such as solar PV.
The system on MoneySupermarket’
Alan Cairns, HR Director at MoneySupermarket, said: “We wanted to show our environmental credentials in a way that not only underlines our commitment to reducing the amount of CO2 we produce as a business, but we also wanted to have a visual reminder in place so our staff and visitors see our green activity in action. Installing solar panels on our roof has certainly done this. Combined with other ‘green’ activities, this will help us save a significant amount of CO2 in 2012 and in years to come.”
Peter Hewart, Director at iGen Energy Ltd, said: “It has been a great privilege to work with, and be chosen by, a great company like MoneySupermarket. They are known throughout the country as experts in value for money, so delivering this project which both saves on energy bills and helps them achieve their environmental goals is something we are very proud of.”
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For further information, photographs, site visits and interview requests please contact Andrea Krug, Krug Communications Ltd, Tel. 07740 245 867, email: firstname.lastname@example.org.
About iGen Energy Ltd (www.igen-energy.com)
iGen Energy Ltd is a company specialising in providing renewable energy solutions to commercial organisations and housebuilders throughout the UK. Based in Greater Manchester, the company grew with the introduction of the Feed In Tariff payments, initially in the domestic market, before developing further to provide commercial-sized solar and wind systems for business, on a for sale and free install basis. iGen Energy continues to develop into new markets and technologies, including their first Micro Hydro project, which is currently in development and an extensive expansion of the company’s current offering to house builders.
About Solar Power Purchase Agreements (SPPAs)
Solar Power Purchase Agreements (SPPAs) are financial arrangements between a third-party developer and a customer. The third-party developer owns, installs, maintains and monitors the solar photovoltaic (PV) system, while the customer agrees to site the system and purchases the system’s electric output from the third-party developer for a predetermined period. This financial arrangement allows the host customer to receive stable and cheaper electricity while the third-party developer acquires valuable financial benefits such as tax credits and income generated from the sale of electricity to the host customer, e.g. via the UK Government’s Feed-in Tariff. With this business model, the customer buys the services produced by the PV system rather than the PV system itself. SPPA arrangements enable the customer to avoid high up-front capital costs; system performance risk; and complex design and permitting processes.
About Moneysupermarket.com Ltd (www.moneysupermarket.com)
MoneySupermarket is the UK's leading price comparison website. The company is based at Moneysupermarket House, St David's Park, Ewloe, Flintshire, CH5 3UZ.