Kingspan Energy aims to help make solar technology deployment "effortless" for UK firms
Insulation and energy efficiency specialist Kingspan is to initiate a major push into the solar energy market with the launch of a new dedicated division that will provide solar-related services to business customers.
The company yesterday announced the launch of Kingspan Energy, positioning the company as "a fully-funded solar energy solution provider" that will enable companies to deploy solar photovoltaic (PV) systems "without the risks involved in the capital outlay, installation or maintenance of a PV system".
Kingspan said the company would effectively lease roof space from business customers, providing 100 per cent of the funding for a bespoke solar PV system that would then generate financial benefits for both Kingspan Energy and its clients.
Under the proposed model, the electricity generated by the system would be made available to the host company at lower rates than would otherwise be supplied from the grid. Meanwhile, Kingspan will receive the feed-in tariff incentives generated by the installation.
The company said the approach would allow businesses to access the wide range of benefits associated with solar energy - such as lower energy costs, insulation against future increases in energy bills, and improvements to a properties energy performance certificate - without having to meet the upfront costs of installation.
"We've launched Kingspan Energy to allow businesses and building owners the opportunity to maximise the use of their roof space to generate rooftop power for their own benefit, thus reducing their energy costs and enhancing the value of their property without the need for any upfront capital outlay'' said Gilbert McCarthy, managing director of Kingspan Insulated Panels, in a statement. "More importantly, because of our expertise as building envelope market leaders, we can offer a comprehensive guarantee, making the proposition virtually risk-free for UK businesses with suitable roof space."
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