CLEAN ENERGY NEWS

New partnership will make solar energy more financially accessible for businesses.

North Somerset-based renewable energy specialist Solarsense has announced a new partnership with finance provider Smart Ease. The partnership will make it easier for business customers to access the benefits of on-site solar-energy generation.

With commercial energy prices increasing as much as 400% in recent months, many businesses are urgently looking for ways to manage their energy costs. While the government’s Energy Bill Relief Scheme will provide short-term respite from soaring bills, switching to on-site energy generation is one of the only ways businesses can guarantee long-term energy security and limit exposure to future price hikes.

In partnership with Smart Ease, Solarsense will offer a range of funding solutions that include Payment Plans and Power Purchase Agreements (PPAs). Payment Plans allow businesses to purchase renewable-energy equipment with £0 up front, which they then pay off in monthly instalments over an agreed term, and PPAs allow larger businesses to access cheaper energy without any capital investment by leasing the airspace above their roof. The PPA provider installs solar panels on the roof space for free, then sells the energy back to the business at a rate far below current energy prices.

If rates return to levels seen before the price cap, businesses can expect to save up to 75% on their energy costs, without any up-front investment.

“Power Purchase Agreements have become quite popular in the London area for financing solar installations,” Stephen Barrett, Solarsense Managing Director, said, “but they are less common in the South West where businesses have traditionally preferred to own the systems themselves.

“However, in the current energy market, more businesses are looking for ways to bring down their energy bills and so we have partnered with Smart Ease to make it easier for people to access PPAs.

“PPA providers typically sell electricity back to the business at around 10-12p a unit, which used to be only a few pence cheaper than the commercial rate. But with prices hitting around 70pp kWH at their peak, businesses can make massive savings through a PPA with very little risk – it’s a no-brainer.”

A further benefit of a PPA is that the provider takes full responsibility for installation, maintenance and insurance of the solar panels, making it particularly suitable for large or complex sites, or in cases where the business lacks the resources to manage the system.

Smart Ease provides an easy route to setting up PPAs as well as access to other flexible funding solutions.

“We’ve been financing energy-efficiency equipment in Australia and New Zealand for over eight years now,” Guy Olian, Smart Ease CEO, said. “Solar panels are much more widely used over there, so the market for energy finance is also more mature.

“We’ve designed a fast and simple application process that makes it easy for customers to access the payment solutions they need, and we’re looking forward to offering it to businesses and organisations across the UK.”

Smart Ease has funded more than 8,000 projects since 2014, with customers including BP, Toyota and Origin. Solarsense customers will be offered direct access to the Smart Ease payment platform from October 2022.

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