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.
History[edit | edit source]
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[edit | edit source]
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.
See also[edit | edit source]
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References[edit | edit source]
- "A Shade Greener offers 19MW of FREE residential solar installations" Solar Power Portal.
- Soutar, Iain. "From local to global value: the transformational nature of community energy". page 165. University of Exeter doctoral thesis. 2015-11-30
- Solar panels offered free of charge BBC, 10 June 2010, Simon Gompertz
- "Shading the market in sales of solar panels". The Star, 8 June 2011
- RBS moves into solar power and taps into FiT scheme. Utility Week.
- "South Yorkshire firm's boom leads to jobs bonanza" BBC, 18 November 2010
- David Cowan; Daniel Wincott (3 December 2015). Exploring the 'Legal' in Socio-Legal Studies. Palgrave Macmillan. pp. 184–. ISBN 978-1-137-34438-0.
- "Small investors pile billions into UK renewable energy". Ecologist, Rebecca O'Connor, 4 November 2013
- "Bond investors offered 18pc immediate return – but you could lose all your money". The Telegraph, By Kyle Caldwell 18 Sep 2013
- "Retail Renewable Energy Bonds Proliferating". Alt Energy Stocks, by Sean Kidney
- "'Green' bond offers 18% interest upfront". Love Money, Cliff D'Arcy, 10 October 2013
- "Savers and investors tempted by promise of 18% interest paid UP FRONT on solar panel firm's bond". This is Money, By Tanya Jefferies, 18 September 2013
- "£10m ‘Greener Bond’ unveiled to finance solar and low energy boilers". Blue and Green Tomorrow, September 9, 2013
- "Firm told not to advertise “everlasting” boilers". Energy Live News, Vicky Ellis, 4 April 2013.
- "Solar installer A Shade Greener secures capital for expansion programme". Yorkshire Post.
- "A Shade Greener gets GBP 155m in financing from Macquarie". SeeNews, 18 March 2015
- "Deeper Capital Markets for Renewable Energy". Renewable Energy World, June 18, 2015. By Tomas Gardfors and Ann Vesely, Norton Rose Fulbright
- Jessica Shankleman. Macquarie backs UK free solar installer with £155m in loans". Business Green, 17 March 2015 (subscription)
- "Free solar panels: The small print exposed". Love Money, Neil Faulkner, 29 October 2014
- " Energy prices and nationalisation – Where should Christians stand?". Christian Today, Michael Trimmer. 13 Nov 2013
- "What now for the UK Solar Industry?". February 29, 2012. By Allan Burns
- "Which? report says free solar offers actually cost over £10,000". Solar Power Portal. By Emma Hughes | 30 September 2010.
- "MARKET WATCH: Solar panels are fit for a prince, but beware 'free' offers". Daily Mail, By Sebastian O Kelly 5 September 2010
- "Free solar panels sound good, but buying them yourself is better". The Guardian, Miles Brignall, Saturday 14 August 2010
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