Funded Solar solution removes final barrier to generation of cheaper, greener energy 

Northern Ireland’s renewable energy industry received a significant boost today with the announcement that Kingspan ESB, a joint venture between Kingspan, a global leader in high performance building technologies, and ESB, Ireland’s largest energy company, has launched a new Funded Solar energy solution.

The fully-funded solar solution will enable Northern Ireland businesses to benefit from a potential £320 million electricity cost savings over the next 25 years (or £5.6 million each year), supported by significantly improved sustainability and environmental credentials.  The new photovoltaic (PV) energy generation offering, will now be available to the local business community without the investment normally required in the capital outlay, installation or maintenance of a PV system.

Kingspan ESB will design, install and maintain the solar PV system, optimised to each customer’s building and requirements. The electricity generated by the system will then be used onsite and purchased by the customer at much lower rates than would otherwise be supplied from the grid. The average medium-sized business in Northern Ireland (consuming 400MWh of electricity per year) would see a 10% reduction in their electricity bill – the equivalent of £5,800 each year, or £330,000 over the course of the 25 year airspace lease above their roof. For the average Large Energy User (consuming 8000MWh per year), this saving increases to £17,000 per year, and £1,055,000, over 25 years.

With Funded Solar, Northern Ireland businesses will be able to fix a portion of their electricity cost indexed to RPI, rather than be exposed to annual utility inflation rates. The potential savings to local businesses will increase year on year throughout the period of the lease if electricity prices increase at historic rates.

Kingspan ESB customers will also benefit from better energy efficiency and carbon credentials, with each system improving a building’s EPC (Energy Performance Certificate) and BREEAM rating, thereby enhancing the value of property assets for owner-occupiers and landlords. 

Enterprise, Trade and Investment Minister Jonathan Bell said; "For many businesses, the costs of purchasing and installing renewables require substantial investment. That is why innovative initiatives such as Kingspan ESB are to be very much welcomed. This initiative demonstrates how two progressive companies can work together to develop a scheme which is not only profitable, but beneficial to wider business whilst at the same time contributing to our decarbonisation and renewable energy ambitions."

As part of the solution, Kingspan ESB offers customers a combined roof and solar PV system guarantee for 25 years, with free lifetime system performance, monitoring and maintenance. Developed for commercial and industrial buildings, the solar PV system can be fitted on a range of roof types, including metal and membrane roofs. The Kingspan ESB system, which will be installed with no costly disruption to business operations, is suitable for new and existing buildings or refurbishments.

Commenting Gilbert McCarthy, Managing Director of Kingspan Insulated Panels, said: “For almost 50 years, Kingspan has been a trusted provider of energy efficient building envelope solutions to Irish businesses. We are confident this partnership with ESB will now play a significant role in Northern Ireland reaching its target of 40% renewable generation by 2020. By removing the financial barrier to the adoption of rooftop solar PV, our fully funded solution strengthens the case for businesses to benefit from green, lower cost power and improve their long-term competitiveness.”

Speaking at the launch, Paddy Hayes, Executive Director, ESB, added: “Funded Solar represents a significant step forward for the development of the Northern Ireland renewable energy industry. This collaboration will continue to innovate and deliver sustainable and competitive energy solutions for all our customers. We look forward to ESB and Kingspan working together to help businesses in Northern Ireland to manage energy costs sustainably.”

More details are available at: www.kingspanesb.com

ENDS

Notes to editors

About Kingspan ESB

Kingspan ESB is a joint venture, established in May 2015, between Kingspan and ESB to serve business customers in Northern Ireland. The company offers Funded Solar, a rooftop solar PV product that produces cheaper, renewable energy without the need for capital expenditure by the customer.

About Kingspan

Kingspan Group is the global leader in high performance insulation and building envelope solutions. Founded in the late 1960s, the Group has grown steadily to become a prominent brand within the construction industry, with an annual turnover exceeding €1.8bn (Financial Results for the Year Ended 31 December 2013). The Group comprises four divisions: Insulated Panels, Insulation, Access Floors and Environmental.

Kingspan Insulated Panels, the biggest division of the four, is the global leader in the design, development and delivery of advanced building envelope products and solutions. Its wide range of products includes Standing Seam systems; Insulated Roof & Wall Panels; Fabrications, Safety and Lighting Solutions; Controlled Environments; Insulated Door Components; Structural Products & Systems; Steel Building Solutions; Kingspan Energy Rooftop Solar PV and BENCHMARK high end Façade & Roof Systems.

Part of the Insulated Panels division, Kingspan Energy is the first provider of fully-funded solar energy solutions for industrial and commercial buildings in the UK and Ireland, offering businesses low carbon energy generation with no upfront capital investment. Launched in 2013, Kingspan Energy offers a range of fully integrated rooftop solar photovoltaic solutions, combined with 25-year guarantees for the Kingspan roofs and PV systems, including free monitoring and maintenance.

About ESB

ESB is Ireland’s foremost energy company, and the largest supplier of renewable electricity in Ireland. Through innovation, expertise and investment, we are leading the way in developing a modern, efficient electricity system, capable of delivering sustainable and competitive energy supplies to ourcustomers in the all island’s market.

ESB has operations spanning electricity generation, transmission and distribution and supply. We also operate in a range of complementary sectors including telecommunications, engineering consultancy and gas. ESB operates through a portfolio of brands including Electric Ireland, NIE, ESB Networks and ESB International.