Landlord embarks on £23m solar scheme
A social landlord has unveiled a £23 million programme to fit solar panels to its housing stock.
Housing association Peabody aims to become a carbon-neutral business by 2020 and is seeking a contractor to carry out the work. Interested parties have until the 21 January to apply.
Following a tendering process, solar electricity panels will be installed on approximately 12,500 suitable houses and housing blocks from summer 2011.
The programme will be funded through the government’s clean energy cashback scheme, which will pay Peabody a tariff for every unit of electricity produced through the panels. This income, which is guaranteed for the 25-year life of the panels, will be used to pay for the cost of the panels and their installation.
Peabody claims that approximately eight megawatts will be installed, reducing carbon dioxide emissions from its homes by up to 3,051 tonnes per year. Residents living in houses will benefit from savings on their electricity bill of up to £150 per year, based on current electricity prices.