SunShare is the latest new solar investment scheme for UK households.
Like the Government’s Feed-In Tariff (FIT), this scheme will help homeowners to combat rising energy costs. However, the unique selling point of this scheme is that it works in conjunction with the Feed-In Tariff to provide further benefits.
SunShare was officially launched on January 17, 2011 by Avonline PLC. Eligible homes are those which install solar panels with SunShare.
SunShare have ownership of the system, but this can be brought outright after 10, 15 or 20 years. Under the scheme, this means vastly reduced installation costs and free maintenance for 25 years.
To qualify certain criteria such as a south facing roof must be met.
Qualifying homes will benefit from free electricity, significantly reduced energy bills, and the perks of the Feed-In Tariff scheme, which sees homeowners, businesses and communities receive payments for generating their own renewable electricity. At present you will be paid 41.3p per kWh.
Payments made out by the Feed-In Tariff are shared between SunShare and its applicants. The amount you receive is up to you and can be anything between 30 – 50 per cent of the Feed-In Tariff.
According to Mark Wynn, managing director of Avonline PLC, qualifying homes could get a fully installed solar PV system for as little as £3,999 and reduce their electricity bills by 40 per cent.