(MENAFN- EIN Presswire)
Manta Ray energy 'Landlord PV box'
Innovative solution aims to incentivize solar installations in rental properties, addressing a critical need in the UK's renewable energy goals
LONDON, UNITED KINGDOM, October 30, 2024 /EINPresswire / -- As the UK moves towards its ambitious target of achieving 70 GW of installed solar capacity by 2035, there is a significant gap to bridge. The country's current solar capacity stands at just 18.53 GW, requiring an average of 5 GW in new installations annually over the next decade.
Further complicating the challenge is the pressing need for rental properties to meet Energy Performance Certificate (EPC) minimum ratings. Today, the law mandates an EPC rating of E, with plans to raise this to a C rating by 2030. However, in 2024, there are an estimated 8.6 million private and social rental homes in the UK, and landlords face limited incentives to invest in renewable systems that predominantly benefit tenants rather than themselves.
Manta Ray Energy, an emerging leader in renewable energy solutions, directly addresses these challenges with the launch of its 'Landlord PV Box' tailored for landlords of residential rental properties across the UK. The innovative system allows landlords to generate and sell electricity from rooftop solar panels either to tenants or back to the grid.
This compelling business model has two major advantages:
1.A Financial Return on Solar Investments: By enabling landlords to directly profit from selling electricity to tenants, the Landlord PV Box makes solar investments financially appealing, while also significantly boosting EPC requirements to a B-rating which typically cannot be achieved with smaller-scale changes such as smart meters.
2.Accelerated Solar Deployment in Rental Properties: By incentivizing solar installations within rental properties in the UK, Manta Ray Energy's solution will help close the 51.5 GW gap in solar capacity needed to meet the UK's 70 GW target for 2035.
Manta Ray Energy estimates that there will be more than 250,000 rental properties installing solar panels in the next 10 years. This volume would result in a total of more than 10GW of installed capacity accumulatively and be a substantial contributor toward the UK's net-zero goals.
As a leading service partner of SolarEdge, a global leader in smart energy technology, Manta Ray Energy is committed to driving the UK towards its net-zero emissions goals.
Speaking at the launch of the Landlord PV Box at the National Landlord Investment Show, Ophir Lahav, CEO of Manta Ray Energy, said,“Our Landlord PV Box creates a vital new pathway for meeting the UK's renewable energy and EPC targets. By offering landlords a clear financial model, we are transforming renewable energy from an added expense into a profitable investment. This not only empowers landlords but also accelerates the country's transition to a sustainable, low-carbon economy, fully supporting Ed Miliband's“rooftop revolution”.
“As the UK forges ahead with its renewable energy targets, we welcome all collaborative opportunities with government and industry to amplify the impact of this initiative and help make this vision of a solar-powered UK a widespread reality," concluded Lahav.
ENDS
Sophie Willis
BCM PR
...
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN30102024003118003196ID1108835099
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.