Ripple Energy and RES cooperate to build Britain’s first shared solar park
Ripple Energy has announced that Derril Water Solar Park in Devon will become Britain’s first shared solar park.
The project, developed by leading renewable energy company RES, will provide an alternative way such sites can be owned and run in Britain.
The announcement comes as RES, which developed the project, enters an agreement to sell its Derril Water Solar Park to a Ripple managed co-operative.
Shared solar is a new, affordable and simple way for households to act on climate change and shrink their carbon footprint.
From tomorrow, households across Devon and Britain will be able to buy and own part of the pioneering project located approximately 1.2km away from the village of Pyworthy.
Ripple 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.
From tomorrow, local individuals will be given two weeks' exclusive access to buy shares from the ring-fenced portion of the project.
Owners of the solar park will see savings applied to their electricity bill, based on how much electricity their share of the solar park generates.
By co-owning Derril Water Solar Park, members will be able to power their homes with local green energy, and slash their energy bills while reducing their carbon footprint.
The remaining 90% of the people-powered solar park will be open to people across Britain.
Ripple has already proven its model with two consumer-owned wind farms in Wales and Scotland (the UK’s first and the UK’s largest of its kind).
Derril Water Solar Park will be Ripple’s third and most ambitious project to date and is an important milestone in its mission to make green energy ownership accessible to everyone.