New Feed-in Tariff Project Secures Financial Return for School
A primary school in Surrey has been given a huge eco-boost, thanks to Fusion21 member, Merton Council.
Delivered under the new Feed-in Tariff rates, Merton Council has treated Gorringe Park Primary School to a 29kWp solar photovoltaic installation – fitted across two of its roofs.
The payback on the system spans less than eight years, and the project is set to generate an internal rate of return of between 14-15%. As a result of the deal, the school will benefit from a £140,000 profit over a 25-year period – demonstrating the viability of solar PV, despite the Feed-in Tariff cuts.
Through accessing Fusion21’s Retrofit framework, Merton Council awarded the £500,000 contract to Joju Solar – which has seen installations fitted across a portfolio of seven buildings. Two of these buildings – including Gorringe Park School – have been completed post Feed-in Tariff.
In addition to the financial benefits highlighted, installations on the South-East based primary school expect to generate more than 27,000kWh of electricity each year - whilst carbon emissions will be reduced by more than 14 tonnes annually.
Corin Freshwater-Turner, Schools Energy Officer at Merton Council said: “Gorringe Park School is one of seven sites we have decided to proceed with. Under the new lower tariffs the numbers still stack up for appropriate sized systems on appropriate buildings."
John Farley, Framework Manager at Fusion21, said: “We are seeing an increase in solar PV projects undertaken on commercial buildings, especially schools – and this project is proof that our members can still reap the benefits of solar PV in 2016.
“Fusion21’s Retrofit framework provides services suitable for domestic and commercial buildings, and offers 15 individual lots to select from. In addition to gaining access to quality assured suppliers and having the option to get on site quickly, our members also benefit from clear cost savings and visibility within the procurement process.
“We also have a Supply of Retrofit and Associated Products Framework available – which covers supply of materials, and ensures Fusion21 members will benefit from greater efficiency savings when purchasing high quality retrofit materials.”