Strategic Energy to fit 1,000 Solar Panels for South Wales Landlord
- Published: Monday, 02 July 2012 14:15
A solar specialist has agreed a deal with a South Wales based housing association to install 1,000 PV panels on its properties.
Strategic Energy - the renewable energy company of contractor Strategic Team Group - will carry out the work for Hafod Housing Association.
The Welsh landlord appointed Strategic Energy so it could take advantage of its free system and capitalise on the 21p per kilowatt hour Feed-in Tariff (FiT) rate.
Strategic Energy Director, Martin Davidson, said: "This is the latest social housing contract we have won and clearly shows the FiT scheme is far from dead.
"It is refreshing to see Hafod Housing Association recognising the many social benefits installing PV panels will bring to their communities.
"Our pure equity model is free for landlords so they do not lose out financially and although the rates of return are not as lucrative as they were before the government cut the tariffs, the advantages for the community – such as reducing tenants' fuel bills and carbon emissions and creating sustainable jobs - are tremendous."
Alan Morgan, Managing Director at Hafod Housing Association, said: "As a landlord with tenants' best interests at heart, we identified installing solar PV panels as one way we could really help customers in these very difficult economic times.
"The reduced FiT rates means the scheme is no longer able to yield the returns it initially could, but Strategic Energy's free system means we are no worse off financially so there are only positive outcomes for us, our people and our communities.
"From an environmental perspective, it is vital we operate as responsibly as possible which means cutting our carbon footprint wherever we can right across our business and this is another obvious way of achieving it and something other landlords need to consider when reviewing solar panels projects."
Strategic Energy has installed solar PV panels for St Vincent's Housing Association, Cannock Chase District Council and Arcon Housing Association already this year and is about to sign its largest contract to date.
"We are very close to completing an even bigger solar panel contract with another social landlord that is keen to capitalise on our model before the FiT rate drops to 16p in August," adds Mr Davidson.
"Our association with a host of the UK's leading law firms means all the legal documents are drawn up and we also have the workforce and materials ready to use.
"Crucially, our scheme is compliant with the Council of Mortgage Lenders and also overcomes problems some landlords have faced trying to obtain consent from the banks."
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