Generate a steady income throughout the year from rooftop solar that enjoys higher rate Feed-in Tariffs
Investors in Share Solar are buying the right to Feed-in Tariff payments from homeowners who installed rooftop solar roughly four years ago.
The latest partnership between Abundance and successful solar entrepreneur Lawrence Buckley, Share Solar offers solar pioneers a ‘green cashback’ on their investment in early domestic installations. They still get to use the electricity produced for free, while investors receive any FiT and income from systems installed and generating since 2012 at the latest.
This is the first in a series of Share Solar Debentures to raise up to a total of £10 million. Each will pay investors 6.5% IRR in twice-yearly Cash Returns from a diversified portfolio of systems that grows with each Debenture offer.
As the number of Share Solar Debentures grows, investors in more than one issue will receive up to four income payments per year because future Debenture issues will pay Cash Returns at different dates to the first.
How it works
This offer is the first in an intended series of Share Solar Debentures from Lawrence Buckley, a solar entrepreneur in his second partnership with Abundance following the Ecossol PV (which has made 2 issues of Debentures). Share Solar has been set up to buy the rights to Feed-in Tariff payments for a portfolio of domestic roof-mounted solar PV systems across England. In this issue of Debentures there will be approximately 100 systems, all of which were installed before April 2012.
The project is looking to raise a total of around £1.3 million to purchase the right to future FiT payments and the right to maintain them, in exchange for a lump sum paid to homeowners who installed panels four years ago.
The average UK household used just over 4,000kWh of electricity in 2014 (Source: 2015 Government data). With an average system size of 3.5kWp, which can generate around 3,000kWh of electricity per year, these systems are helping to improve energy efficiency and reduce emissions from UK home energy use.
The homeowners installed the panels some years ago with their own money. Now they have the chance to receive a ‘green cashback’ lump sum in return for any future FiT payments, while still allowing them to benefit from lower bills by using the electricity produced for free, and benefitting from professional maintenance to remedy any issues quickly.
Early Bird Bonus
There is an additional Early Bird Bonus on this project of 0.5% on the amount invested for the first 5 years. This bonus is available to anyone who invests in this project on or before 30 June.
|Cash Returns paid||0|
|Payment dates||11 March and 8 September|
|Next payment date||11 March 2017|