Public offered stake in Britain’s first shared solar park

Households across Britain will be able to buy into the country’s first shared solar park from tomorrow (18 April), it has been announced.

It comes after Ripple Energy completed a deal with Derril Water Solar Park developer RES to provide an alternative ownership model.

From tomorrow, households will be able to buy and own part of the 42MW project which is located approximately 1.2km away from the village of Pyworthy in Devon.

Ripple said it is ring-fencing 10% of the ownership of Derril Water Solar Park exclusively for those in the surrounding area and is urging interested local households and businesses to come forward.

Locals will be given two weeks’ exclusive access to buy shares from the ring-fenced portion of the project.

The remaining 90% of the solar park will then be open to people across Britain.

According to Ripple Energy, co-owning Derril Water Solar Park will allow members to “power their homes with local green energy, and slash their energy bills whilst reducing their carbon footprint”.

Sarah Merrick, founder and chief executive of Ripple Energy, said: “By offering consumer ownership, Derril Water Solar Park will become a completely different kind of solar park, one owned by the people it supplies low cost green power to.

“We want Derril Water to become a blueprint for consumer-owned solar parks around the world. We want to create a wave of green energy ownership that enables people to make a real climate impact, as well as stabilising their energy bills.

“People from all corners of Britain will be able to co-own Derril Water Solar Park, and we hope as many as possible will become part of this pioneering project.”

Lucy Whitford, RES managing director added: “Bringing Ripple on board at Derril Water offers a new way for consumers to share in the benefits of renewable energy and play a part in fighting climate change.

“The ability for local households and businesses to get involved connects the community directly with the project. Ripple’s model at Derril Water provides a direct way for consumers to lower their energy costs at such a critical time.”

Shared solar has been tipped as a means of the government meeting its target for a fivefold increase in solar generation by 2035.

Solar Energy UK says that around 230km2 is currently covered by solar panels, which is equivalent to 0.1% of the UK’s land mass.

It estimates an extra 464km2 would be needed to meet the government’s target, outlined in the British Energy Security Strategy last year, to increase solar generation from 14GW now to 70GW.