Ecossol PV Debenture Two broadens access to solar in the north east
Already installed and generating, and partly funded by Green Deal loans, this project is showing solar works across the UK.
Ecossol PV D2 is making it possible for homeowners in the north east of England to benefit from rooftop solar panels. Green Deal loans have paid for part of the upfront cost and you have the opportunity to fund the rest. In return, the Feed-in Tariff payments go to Debenture holders while homeowners get cheaper electricity.
This is the second issue of Debentures for Ecossol PV and this offer has the same investment terms as the first. The revenues from all the systems funded by both Debentures form one portfolio, mitigating the risk of individual system issues, should they arise.
Over its 19 year lifetime the Fixed Return Debenture on offer pays an effective rate of return of 7%.
* Note: all the panels in this project have already been installed and registered to receive the Feed-in Tariff, and the Green Deal loans are already in place – Ecossol PV is therefore not affected by the government’s decision to end funding to the Green Deal Finance Company or the recent cuts to solar tariffs.
Ecossol PV provides homeowners with a flexible solar solution
How it works
This project is the second from Ecossol PV which was set up to own and manage a portfolio of domestic roof-mounted solar PV systems across the north east. In this issue of Debentures there are approximately 320 systems, all of which were installed under the Green Deal scheme before the end of August 2015 and are generating electricity today.
This is the second Debenture issue by Ecossol PV which raised £1,068,801 at the end of 2015 to fund the Feed-in Tariff rights to 321 systems.
The project is looking to raise a total of £1,055,000 to refinance the cost of the solar panels and their installation not met by the Green Deal loan to homeowners.
Energy use in an average UK home is responsible for 5 tonnes of CO2 emissions per year (2012 Government data). Generating and using electricity via rooftop solar panels is able to reduce this number, because solar is a carbon-free source of power. Just one of the measures that were available in the Green Deal, it is helping to reduce the CO2 emissions and increase the energy efficiency of thousands of homes.
Homeowners pay back the Green Deal loan through their electricity bills, but not the cost of the panels met by ISIS Solar. From day one they can use as much of the electricity produced for free; once they have paid off the loan, they benefit from even lower electricity bills. In return for their partly free solar, they have given Ecossol PV the rights to all Feed-in Tariff payments for the electricity produced for the life of the investment.