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GMCA backs solar battery firm seeking social housing partnerships
The Greater Manchester Combined Authority (GMCA) has given its support to a company hoping to create a solar battery “virtual power plant” with a £1m facility.
Moixa plans to establish a 100,000 solar battery network in the UK by 2020 using its cloud-based GridShare platform, installing half of the units itself.
The firm said it will use the GMCA money to open an office in Manchester as it seeks deals with social housing providers in the North West.
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It has also secured a further £1.5m in equity investment, including £500,000 loans from Tokyo Electric Power Company and venture capital outfit First Imagine Ventures.
Simon Daniel, chief executive of Moixa, said: “We are developing solar-plus storage solutions for social housing that will help councils tackle fuel poverty and we look forward to collaborating with Greater Manchester and supporting the low-carbon energy transition in the Northern Powerhouse region.”
Solar batteries can cut an extra 20% off electricity bills for homes with solar panels by storing energy generated through the day for night use.
Social landlords had been gearing up plans to install solar panels on tenants’ homes before a heavy government cut to subsidies scuppered much of the work in 2015.
