Want to go green with your energy consumption, but can’t afford the cost of solar panels? You can co-own a wind turbine or solar park.
Want to go green with your energy consumption, but can’t afford the cost of solar panels? Don’t worry, there’s another way to get involved in the renewable energy revolution – by co-owning a wind turbine or solar park.
Sarah Merrick, the founder of Ripple Energy, started the company to help people co-own a wind turbine or solar park. By buying a share in a wind farm or solar park, you can contribute to clean energy and reduce your energy bills at the same time.
Co-owning a wind turbine or solar park is much cheaper than installing solar panels on your rooftop, with shares starting from as little as £25. This one-time payment is spread over 12 months, and you’ll own your share for the entirety of the turbine’s 25-year or the solar park’s 40-year life span.
Ripple Energy has already completed two wind farm projects, one in Wales and one in Scotland. The first project had one single wind turbine that provided green energy to 900 co-owners. The second project has eight turbines and 5,600 co-owners.
The latest project is Ripple’s first solar park, which is still open for investment. The buy-in cost is slightly higher than that of the wind farms, but you’ll be benefitting from the energy discounts for 40 years rather than 25.
When you co-own a wind turbine or solar park, you don’t need to live nearby to benefit from clean energy. Plus, you’re not attaching anything to your home, so it doesn’t matter if you’re a renter or want to move house. Your green energy can move with you, just like a normal energy supplier.
By opting into Ripple’s schemes, you won’t get free energy, but instead, you’ll receive credit on your account each month when supplied by one of Ripple’s partner energy suppliers. Ripple estimates that your bill will be around 23% cheaper overall. With traditional energy costs increasing exponentially, this saving is becoming even greater.