Our client Solarstream Limited have recently installed a 200kw solar PV system in Cork City
Our client Solarstream successfully completed a 200kw solar PV system on a commercial building in Cork.
Solarstream Limited installs PV Solar Systems on commercial and domestic roof tops throughout the island of Ireland.
The systems are installed on commercial and residential roof tops under ‘Solar as a Service’ service agreements (“SaaS”) and Power Purchase Agreements (“PPA’s”) whereby Solarstream installs the systems and meets the upfront capital cost of installation.
Solarstream designs bespoke service agreements allowing the customer to apply the savings in electricity costs to pay for the system over the term of the agreement. The customer takes ownership of the system for a nominal amount at the end of the term of the agreement. Solarstream has been installing systems under the SaaS since early 2019 and under the PPA agreement since 2020. Solarstream now wishes to raise further funding to expand its working capital and asset installation pipeline.
The target markets in 2021 will continue to be the domestic residential market and the SME and mid-size commercial market where demand has been strongest.
Residential homes constructed prior to 2011 qualify for grant support to install a PV solar system coupled with battery technology. Up to €3,000 of grants support are available per installation.
This can represent up to 30% of the upfront capital cost of the installation. This support scheme came into place in October 2018, was modified in early 2020 and is applied to the residential market initially.
Solarstream has been developing the SME commercial market and a significant volume of commercial installations were installed in 2020. This is expected to be a significant sector of growth in 2021.
Incentive support is expected to be extended to the SME commercial market but will continue to be a slow developing market until then.
Residential agricultural farms are also being targeted by Solarstream because of their high energy usage and the availability of large agricultural sheds on site. This allows for the installation of 6kws (21 panels) without planning.
Customers with strong credit rating profiles are selected for the scheme. This is supported with legal service agreements with supporting recourse indemnities.
All installations have certainty of legal titles with ownership remaining with Solarstream until the system is paid for in full by the customer. As up to 30% of the installation cost is recovered by the homeowner, only 70% of the capital cost remains to be paid over the life of the service agreement. In most cases, the customer also places a further deposit against the cost of the system. The customer also signs a legal service agreement and indemnifies Solarstream against any non – payments.
The PV systems are sized so that most of the electricity is being consumed onsite during the day or stored in the battery for consumption at night.
All customers become members of the Solarstream Smart Grid with installed systems having real time monitoring together with future proofed technology. Once the enabling legislation is enacted, this will allow customers to trade electricity with their neighbours and community.
Clean renewable energy companies in Ireland have a bright future
The clean energy sector represents a massive opportunity for investors. However, investors must choose carefully, since not all will capture the full extent of this opportunity. Two key characteristics to look for are a strong balance sheet and a solar energy-focused growth profile since those factors could give a company the power to generate higher returns.
To view our current renewable energy investment opportunities please head over to www.greencrowd.envestry.com
The Green Crowd group in Ireland concentrates on investments dedicated to a greener economy. To register as an investor or further information head to our investors platform or email firstname.lastname@example.org
Green Up Your Portfolio For 2021
If a green investment catches your eye, there are plenty of ways to find a place for it in your portfolio. You don’t have to choose individual companies to get into the area, our 2021 investors platform will involve dynamic spreading across investment opportunities.
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