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This year, over one in three Boroughs participated in the Solar Together London Initiative. The venture enables homeowners to utilise their accumulated purchasing power. They can use it to arrange substantial discounts on the standard costs of acquiring as well as installing solar panels. A pilot scheme began in four of the Boroughs. Around 4,000 individuals signed up after, with eight other locations joining the scheme in addition. This includes Islington.
The renewable energy plan holds a reverse auction. It provides firms with the opportunity to bid for installation contracts. The goal is to make them undercut one another to win.
Savings
The price of a regular solar panel set up lies between £5,000 and £8,000. This includes installation. Homeowners who are a part of Solar Together London paid £3,200 to £3,600. This makes it more accessible and also means countless residents can choose a substitute energy source.
Estimates from the Energy Savings Trust revealed that London’s solar panels are worth roughly £320 each year. They based these findings on bill savings as well as earnings from sending surplus power back to the grid. They could add a bit of value to a property too. This is because the possibility of low bills will seem appealing to buyers.
Residents and businesses can sign up to the scheme.
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