Helping homeowners to go green with rooftop solar panels
Ecossol PP was set up to help make solar PV more achievable across a broader geographic area and continue the rollout of solar PV for homeowners in areas with lower solar irradiation. Ecossol PV installed solar panels on more than 600 homes in the north east of England in 2015.
Ecossol PV part-funded the installation of the solar panels and was responsible for the ongoing operations and maintenance of the solar system for the homeowner. In return, Ecossol PV received the Feed-in Tariff paid for the electricity generated. The remaining cost of the panels was met by the government's Green Deal scheme at the time, whereby homeowners were provided with a loan with the repayments covered by the expected energy saving from using the onsite solar electricity generated. This loan is repaid through the homeowner's energy bills, which decrease over time as the loan is paid off.
There were two Debenture offers on Abundance from Ecossol in 2015, which raised a total of more than £1,900,000. Both Debentures were repaid in full in 2020 after the portfolio of solar systems was sold.
Key terms
Documents
Payment schedule
This table gives a breakdown of what was paid back on this investment, based on an example investment of £1,000.
| Payment date | Capital repayment | Interest | Total |
|---|---|---|---|
| 10 March 2016 | £26.32 | £22.06 | £48.38 |
| 8 September 2016 | £26.32 | £22.06 | £48.38 |
| 11 March 2017 | £43.45 | £22.21 | £65.66 |
| 8 September 2017 | £28.95 | £21.67 | £50.62 |
| 9 March 2018 | £31.26 | £21.62 | £52.88 |
| 7 September 2018 | £28.24 | £21.45 | £49.69 |
| 11 March 2019 | £37.67 | £21.48 | £59.15 |
| 8 September 2019 | £35.08 | £21.13 | £56.21 |
| 10 March 2020 | £36.85 | £20.88 | £57.73 |
| 8 September 2020 | £28.97 | £20.45 | £49.42 |
| 19 November 2020 | £676.89 | £19.19 | £696.08 |
| Total | £1,000.00 | £234.20 | £1,234.20 |