A new solar power business model, designed by Bourne-based Lark Energy, could overcome high upfront costs of solar for both businesses and households, according to a new report.
Lark Energy has been praised for its innovation in the report by industry group SolarPower Europe which identified the company’s solar PV installation at Ketton Cement as an exemplar of successful solar power.
It said: “There will always be some households and businesses with enough spare cash to be able to self-fund solar PV projects.
“But finance is what will allow solar to be accessible to a maximum number of power consumers and application segments if sufficiently attractive business models and projects can be put forward.”
The report said that Lark Energy’s ground mount onsite private wire power purchase agreement (PPA) is a potential future business model for the industry.
Lark Energy designed the solar farm to enable active and reactive power management and to protect the grid from reverse current.
The company has worked in partnership with Hanson Cement to design, develop and construct a 12 MWp solar farm on 20 hectares of former quarry.
The first phase is 9 MWp consisting of 38,544 modules. The second phase is 3 MWp and is sited on an adjoining field of seven hectares.
It consists of 12,100 modules which, together with phase one, generate enough energy to cover around 13% of the cement works’ annual consumption.
Lark Energy’s Paul Adams said: “This significant industry recognition demonstrates that we can deliver successful solutions for large commercial clients like Ketton Cement.
“We can help them to reduce their electricity costs and generate revenue by selling surplus energy back to the grid through the installation of electricity-generating PV solar panels.
“Lark Energy’s sustainable energy solutions can reduce energy costs for businesses, whether on single or multiple sites.”