A Shade Greener
|Private limited company|
|Industry||Energy-saving, Solar Energy, Microgeneration, Renewables|
|Founder||Stewart Davies and John Wade|
|Headquarters||Tankersley, Barnsley, South Yorkshire, United Kingdom|
|Stewart Davies (MD) |
Simon Duncan (CFO)
Number of employees
A Shade Greener Ltd. (ASG) is a private limited company in the United Kingdom which installs and operates solar panel systems. Its head office is located in Tankersley, and it has another office in Bristol. It was the first company to be involved in the UK's free solar industry, also known as the 'Rent a Roof' industry.
A Shade Greener was formed in 2009 in Tankersley, Barnsley and began to install solar panel installations on the roofs of residential homes. A Shade Greener secured financing from Lombard Plc to fund the venture.
By 2010 the company was employing about 120 people. and by 2011 had installed about 11,000 systems, including a few on leased homes, which caused legal difficulties between the tenants and their landlords.
In 2013 the company began offering corporate bonds totaling £10 million to raise funds for additional installations. At that time it had installed about 25,000 single dwelling installations. Some of the money was used to buy solar panels that had already been installed on roofs by homeowners. The bonds were considered high risk by financial advisors. Using some of the funds raised, the company began marketing biomass boilers as well as solar panels; soon after, the company was warned by the Advertising Standards Authority to change some misleading wording in its advertisements about the longevity of its boilers.
In 2014, additional financing was arranged with GE Capital. At that time the company's staff had grown to about 600 people.
The Business Model
A Shade Greener installs and maintains solar photovoltaic systems (solar PV) onto the roofs of domestic properties. The company keeps the Feed-in-Tariff and owns the panels. The homeowners make use of the free electricity that the solar PV produces, reducing their electricity costs. ASG installs systems that have 16 or 18 panels, which on suitable south-facing roofs generate at least 3000 kilowatt hours of energy per annum. The scheme has led some homeowners to collect solar energy who would be unable to afford the cost of buying and installing the panels; however, investigations by journalists and consumer groups, including Which?, concluded that the financial benefit to homeowners is considerably less than if they were to borrow money to buy and install panels themselves.
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