"Secret Millionaires" Launch US$45m Fund for Free Solar Panels

Want solar panels but don't want to pay for them? Feed-in tariffs have already enabled free solar for schools programs in the UK, and in the US folks are enjoying solar for no money down thanks to innovative leasing schemes. Now Business Green reports a similar scheme is offering at least UK£30m (about US$45m) of funding for free solar panels. (Some reports say funding may actually reach UK£500m, but details are yet to be confirmed.) Under the initiative, companies and organizations can apply for up to UK£150,000 to install rooftop solar, and will benefit from all energy savings generated. Meanwhile the initiative itself—a private company called Freetricity—will make income from the Government's feed-in tariffs. While similar schemes have been launched nationwide (and some have been exposed as scams), this is the single largest fund of its kind and looks set to give UK solar a major boost. And it all started because of a TV show:

A partnership forged on the TV show The Secret Millionaire is launching a "significant" new fund to provide a helping hand to rooftop solar energy projects. Grants of up to £150,000 to fit photovoltaic panels are being offered to public and private organisations by Freetricity, a company formed by businessman Paul Williams and entrepreneur and environmentalist Ben Way, who met on the Channel Four programme.

Tags: Alternative Energy | Economics | Renewable Energy | Solar Power | United Kingdom

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