Ripple Energy announces UK’s first co-owned solar project

Almost a year after Ripple Energy’s first consumer-owned wind farm went live, the company has announced that its third shared renewable energy project will be a solar park in England.

Before the project was announced as a solar park, Ripple Energy confirmed that its third project had received 16,000 reservations for its seven-day purchase window in early February 2023.

The co-owned renewable sites allow consumers to buy and co-own a source of renewable energy generation, receiving money off of their energy bills based on the amount of energy produced by their share.

With shares starting at £25, co-ownership presents a cost-effective alternative to owning domestic solar panels.

Ripple predicts that due to the current energy crisis, co-ownership members could save roughly £783 on their electricity bill in 2023 as purchase prices maintain their volatility.

“We’ve been identifying the best possible sites, both in terms of cost and the speed of the build,” said project manager, Jamie Adam.

Nima Soufiani, software developer at Ripple Energy added that the company had been optimising its dashboard and website to ensure it is ready for loads of new co-ownership members.

“We’re so excited to have so many of you on board” said CEO and founder, Sarah Merrick, referencing the 16,000 people already signed up to the solar project.

“We’re going to be releasing more details along with the share offer document when we open the share offer later in the year.”

Solar Power Portal will keep updated as more details of the project are announced.