RCS - Good Energy Group - Commencement of solar installations

Good EnergyAnnouncement

02/03/2023 07:00

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RNS Number : 5699R  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 £224m 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 (https://www.goodenergy.co.uk) .

 

 

Enquiries

 

 Good Energy Group PLC                                                    Email: press@goodenergy.co.uk (mailto: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 (mailto:GoodEnergy@secnewgate.co.uk)
 Elisabeth Cowell / Molly Gretton                                         Tel: +44 (0)7900 248213

 Investec Bank plc (Nominated Adviser and Joint Broker)                   Tel: +44 (0) 20 7597 5970
 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 (http://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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