NEWS UPDATE SOLAR FUNDING
Help in the transition to renewable energy
A new alternative to traditional solar funding has been launched, aimed at industrial businesses. Designed to support organisations with >200kW energy consumption (equivalent to £500,000 of electricity per annum) this new financial model could be valuable to businesses making the transition to renewable energy solutions to mitigate energy costs and regulatory mandates. Developed and launched by on-site power specialists EuroSite Power, the new Solar On-Site Utility (OSU) model is structured to deliver long- term commercial benefits.
EuroSite Power says its funding model will future-proof energy
costs for up to 20 years by ‘locking-in’ savings through an innovative tracker PPA, ensuring profitability and cost effectiveness long term. The Solar OSU model reduces risk of inflation, eradicating the traditional PPA inflation trap, and eliminates the need for upfront capital – which makes the transition to renewable energy financially accessible without impacting on credit. Matt Brindle, sales director, comments: “Our model delivers immediate cost savings and environmental benefits, and is cheaper than conventional finance models over the contract term. We believe we can really help these companies to make significant cost savings and progress towards their net zero and ESG ambitions.”
OBITUARY: Lord Stunell
Last month saw the sad passing of the Rt Hon Lord Stunell, aged 81. A member of the Royal Institute for British Architects, as Building Regulations Minister he showed great determination to expedite
minimum standards for the conservation of fuel and power in new and existing buildings. He was also one of the key drivers of the Coalition Government’s Green Deal energy efficiency initiative, aborted shortly after the Lib Dems left government. Andrew Stunell was the Liberal Democrat
MP for Hazel Grove between 1997 and 2015, knighted in 2013, and ennobled in 2015. He then became an active member of the House of Lords right up to the day of his death, serving on the committee on standards in public life. Throughout his parliamentary career he was the most assiduous champion of energy efficiency, particularly in buildings. When he was his party’s chief whip, he won the annual private members’ bill ballot, enabling him to introduce the Sustainable and Secure Buildings Act 2004, intended to make new buildings greener and safer. He studied architecture at Manchester
University, and worked for the Co-Op and for the
Runcorn Net Town Development Corporation where he also became a union negotiator for NALGO. He was for many years a member of Cheshire County Council, where he led the Liberal Democrat group. He was heavily involved in two key inter-party negotiations , initially in 1988 between the Liberals and the Social Democratic Party to merge to form the Liberal Democrats. And in 2010 he was one of the four-person Lib Dem team which agreed the Coalition Government with the Conservatives. In that government, he became the first Building Regulations Minister, where he concentrated heavily upon promoting initiatives like the upgrading of Part L standards in 2012, the push to deliver zero carbon homes from 2016 onwards, and the introduction of “consequential improvements”, requiring upgrading of the original fabric of any building which was being significantly expanded. Sadly, both these last two important initiatives
fell foul of internal Conservative party disputes; both have still yet to be implemented 12 years after he left office. His strong Methodist faith ensured he
was always a man of great probity and principle. His personal commitment to the cause of improving the energy efficiency of the buildings we live and work in has never been matched both in practical knowledge and effectiveness.
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EXCLUSIVE GB & IRELAND PARTNERS
EIBI | JUNE 2024
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