Isle of Wight community energy company launched

The Isle of Wight based, community interest energy company, Ecoisland Energy has been launched today.

The energy service company is predicting energy savings of about 20 per cent for business and domestic customers on the island.

Ecoisland Energy plans to fit 50,000 energy management systems, provided by its Swedish partner Maingate, into properties on the island.

These will provide real time data on their energy usage, and the company will provide smart phone and internet apps which will allow customers to control appliances, lighting and heating remotely.

Maingate found in a trial of 13,000 homes that this system helped reduce energy bills by an average of 20 per cent.

David Green, founder of Ecoisland, said: “We are delighted that the months of planning and the financial modelling have eventually come to fruition.”

Baard Eilertsen, chief executive at Maingate, added: “The inherent strength of consumer and community led innovations within the energy space is what Maingate see as an important part of the future and we are excited with Ecoisland for this ground breaking initiative.”

A percentage of the profits raised by the company will be invested into the community providing funding for community projects and green business start-ups, while some will go back into the renewable energy infrastructure.

Ecoisland Energy also has ambitions in the future to offer smart appliances, leases on electric vehicles, broadband services, and demand side management.