Good Energy Group PLC Commencement of solar installations
02 March 2023 - 6:00PM
RNS Non-Regulatory
TIDMGOOD
Good Energy Group PLC
02 March 2023
London, 02 March 2023
Good Energy Group PLC
("Good Energy" or the "Company")
Commencement of solar installations
Good Energy, the pioneering clean energy company, is pleased to
announce that it has commenced domestic rooftop solar installation,
completing its first install just two months after completing the
acquisition of Igloo Works in December 2022. This is a significant
milestone and demonstrates how the acquisition of Igloo Works
provides Good Energy with a platform to execute the Company's
strategy to expand its decentralised energy services offering and
rapid consolidation of Good Energy's leading role in the solar
space.
The Company has identified a key target segment of over 250,000
households considering a solar installation by 2026. In 2022, UK
installations doubled to over 130,000 with high energy prices
driving increased interest in households generating their own
power. It is a rapidly growing market which Good Energy is well
positioned for as a trusted green pioneer with over 20 years as a
renewable electricity supplier and a legacy that includes being the
first UK company to pay households for the solar energy they
generate.
Research from the Company's partner Zap-Map, the UK's go-to EV
charging app, which Good Energy is a major investor in, has shown
the strong link between EV drivers and solar. They are seven times
more likely than average to have solar installed at home, with
Zap-Map's survey of over 4000 EV drivers showing that 29 per cent
have a PV array. As the app tops 700,000 registered users, this
represents another significant area of growth for Good Energy's new
services.
This latest development comes after the introduction of a smart
export for the Company's Feed-in Tariff (FiT) customers. As the
largest voluntary administrator of the Feed-in Tariff and the
second largest overall, with over 180,000 customers to whom it
processed over GBP224m worth of payments in 2021/22, Good Energy
already plays a leading role in the solar space. In the near term,
the Company plans to launch a market leading export tariff,
consolidating a strong holistic solar proposition.
Nigel Pocklington, CEO, Good Energy said: "As a major supporter
of households with solar for many years, this is a great moment for
Good Energy. Not only can we provide customers with the digital
services and export tariffs to make a solar install stack up, we
can now provide the tech itself too.
"We expect the surging interest in solar to remain high for the
foreseeable future. Right now it's being driven by the on-going
high cost of energy, and we intend to continue to drive interest
with competitive export tariffs, financing and bundling to make
cutting carbon cost effective."
ENDS
Media contacts
Ian McKee / Justin Guy
press@goodenergy.co.uk
07718671003
About Good Energy www.goodenergy.co.uk
Register interest for Good Energy's future products and services
at goodenergy.co.uk .
Enquiries
Good Energy Group PLC Email: press@goodenergy.co.uk
Nigel Pocklington, Chief Executive
Charlie Parry, Director of Corporate
Strategy & Investor Relations
Ian McKee, Head of Communications
SEC Newgate UK Email: GoodEnergy@secnewgate.co.uk
Elisabeth Cowell / Molly Gretton Tel: +44 (0)7900 248213
Investec Bank plc (Nominated Adviser Tel: +44 (0) 20 7597 5970
and Joint Broker)
Daniel Adams / Henry Reast
Canaccord Genuity Limited (Joint Broker) Tel: +44 (0) 20 7523 8000
Henry Fitzgerald - O'Connor / Harry
Rees
About Good Energy www.goodenergy.co.uk
Good Energy is a supplier of 100% renewable power and an
innovator in energy services. It has long term power purchase
agreements with a community of 1,700 independent UK generators.
Since it was founded over 20 years ago, the Company has been at
the forefront of the charge towards a cleaner, distributed energy
system. Its mission is to power a cleaner, greener world and make
it simple to generate, share, store, use and travel by clean power.
Its ambition is to support one million homes and businesses to cut
carbon from their energy and transport used by 2025.
Good Energy is recognised as a leader in this market, through
our green kite accreditation with the London Stock Exchange and as
the only energy supplier with Gold Standard Uswitch Green Tariff
Accreditation for all tariffs.
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END
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