At a time when households all over the UK are under increasing pressure from the higher cost of living including rising energy bills, more than 2,600 tenants of Cross Keys Homes, Peterborough's largest housing association, could benefit from cheaper energy bills as a new deal to install free solar panels on their homes was announced.
The scheme, a partnership between Cross Keys Homes, Strategic Team Group and Macquarie Lending, is the biggest partnership of its kind and is aimed at alleviating fuel poverty for Cross Keys Homes’ tenants. Roll-out of the first solar panels commenced this week and is fully funded by Macquarie Lending, requiring no financial contribution from Cross Keys Homes.
Offering a potential saving of up to £250 per home, this deal will collectively save tenants over £500,000 per annum and will be a blueprint for similar schemes around the UK.
The scheme is part of the UK’s largest free solar roll-out, a programme being funded by Macquarie Lending, installed and maintained by Strategic Team Group and represents a major boost for the sector.
Chairman of Cross Keys Homes, Dr Angus Kennedy, said: “We are determined to do all that we can to alleviate the hardship many of our residents are facing at this difficult time, as well as lead the way in the housing sector using new and unique initiatives.
This is a fantastic opportunity for our residents and one which we are very proud to be embarking on. It will help many residents in the fight against fuel poverty and hopefully will encourage more housing associations and social landlords to take up this fantastic opportunity.”
Andrew Watson, Strategic Team Group’s Managing Director, said “Cross Keys Homes is committed to helping its tenants financially and has capitalised on our free model that offers huge fuel bill savings for its customers by installing PV panels at no cost and no risk”.
Andrew Gray of Macquarie Lending, said: “This marks a significant first step in Macquarie Lending’s strategy to support housing associations efforts to reduce tenants’ energy bills. We are looking forward to building on this platform and working with associations across the UK as they seek to the same for their tenants.”