New wind-energy ownership model
10 May 2019
It was recently reported that Britain went through its longest coal-free period since the Industrial Revolution. Despite this good news, our energy mix still relies heavily on gas and the UK government, with its removal of subsidies to support new renewable energy projects, is not doing the best it can to make the most of our abundant renewable energy potential.
Ripple Energy a start-up that has created a new wind-energy ownership model, aims to tackle this. Their model allows members of the public to own parts of an on-shore wind farm, and by switching to one of the Ripple’s energy supply partners, these members will be able to sign up to a cheaper tariff that will reflect the low cost electricity from the wind farm they have invested in.
By sourcing new investment, Ripple Energy aim to develop extra wind capacity in the UK which they will build and operate. As the electricity is supplied via the grid, anyone can benefit from this if they wish to become members no matter where they are.
Here's a longer article on Ripple's new business model by Ben Chapman of the Independent.