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Freetricity Secures Australian Bank Loan To Develop UK Plans
A new financing deal which will fund free residential solar panels on up to 1500 houses a month was announced today. The deal which is being funded by Australian Investment Bank Macquarie, will be delivered by leading UK solar supplier Freetricity and installer Styles&Wood Energy. It is the largest free solar roll-out of its kind in the UK and represents a major boost for the market.
Welcoming the deal, Paul Williams, CEO of Freetricity said, "The European Commission has recently estimated that the renewables sector will provide 3 million jobs across the EU by 2020. The solar industry in the UK is growing and we are delighted that this new financial deal will contribute to that, creating over 550 new jobs and stimulating the free solar market for homeowners."
"The UK needs to believe in solar energy as a real alternative to traditional energy sources and even newer, more controversial energy generation processes such as fracking. Solar energy is a clean form of energy which can be installed on roof tops bringing the homeowner real savings on their energy bills. Free residential solar installations offer completely free solar energy systems to homeowners who pay absolutely nothing yet still benefit from cheaper energy bills."
Freetricity has appointed the specialist renewable energy division of integrated property services business Styles&Wood to carry out the programme of installations.
Styles&Wood Energy, which is an NICEIC Approved Contractor and NICEIC MCS Approved installer, will handle all aspects of site-surveying, specification and installation for the nationwide programme, which expects to generate in excess of 30MW of solar power.
Tony Lenehan CEO of Styles&Wood Energy said: "This is a highly significant project for the UK residential solar market and our appointment reflects Styles&Wood Energy's growing reputation in the field of renewables installation.
"At a time when many people are struggling with rising energy bills, this project will enable thousands of households to save money while making a contribution to lowering the UK's carbon footprint."
Styles&Wood Energy provides energy management, efficiency and microgeneration services on a nationwide basis for a broad range of clients in the public and private sectors.
A recent survey carried out by Freetricity of 5,530 people found that 20% of people did not know they could install a solar system for free and 90% thought the Government should really put their weight behind solar energy.
