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.
RES will continue its involvement in the site, undertaking the construction and providing operational services once it starts generating clean energy.
Founder and chief executive of Ripple Energy Sarah Merrick 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 and 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."
RES’ managing director for UK&I Lucy Whitford 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."
