A renewable energy specialist has created a system with Ernst & Young, the Council of Mortgage Lenders and some of the UK's leading law firms to make the Feed-in Tariff (FIT) viable at the 16.8p rate.
Strategic Energy, working with St Vincent's Housing Association, has created a comprehensive no cost solar photovoltaic (PV) panels package for social landlords while retaining significant rates of return for private equity investors.
The package sees Strategic Energy covering landlords' outlay of legal costs for PV panel schemes through its associations with Trowers & Hamlins, Addleshaw Goddard, Cobbetts, Croftons and Hammonds.
A full suite of legal documents has been drawn up specifically for the FIT programme so landlords can access them quickly to speed up installations.
All are Council of Mortgage Lenders compliant and approved by Santander, Barclays, HBOS and Dexia.
In the first partnership of its kind, Strategic Energy and St Vincent's Housing Association worked with the TSA to structure approved documents and protocols, giving it the ability to carry out the Tenant Liaison Officer role throughout the installation process.
Strategic Energy Director, Martin Davidson, said:
"There is no reason for landlords to stop their PV schemes. We have a comprehensive package and a system that works at 21p and 16.8p rates.
"Housing providers have a window from the 12 December until 31 March where they will still receive the 21p/kWh rate but even when it drops to 16.8p from 1 April there is still a very good financial return for investors using our system.
"Our legal framework, which is approved by the Council of Mortgage Lenders and various banks, removes a huge barrier to the FIT market. It means we can save landlords significant sums of money and get on-site far quicker than anyone else.
"This was the deciding factor for St Vincent's Housing Association, as it meant their scheme was financially viable and we could start immediately."