Solarcentury

How is it social?

The company was set up with the specific aim of encouraging renewable energy options. The founder and CEO, Jeremy Leggett, was a Greenpeace campaigner before setting up Solarcentury, and many of the key players within the company are environmentalists in one form or another. The product itself generates carbon free energy.

Solar century has recently partnered with the Ulster bank to provide a solar mortgage, which will offer borrowers a 50% discount off the bank's variable rate, thus releasing money for the purchase and installment of photovoltaic technology.

What is its business model?

Solarcentury is a renewable energy provider. Its 500 installations to date span the commercial, private and public sectors and have the potential to generate around 4,000,000 kWh of electricity every year. The company has won numerous business and technical design awards. Clients include the Co-Operative Group, Sir Robert McAlpine, Tesco, Sainsbury’s, Channel 4, The Environment Agency, Transport for London, Barratt, and Laing Homes. The company has also won the tender for a DTI supported programme to supply photovoltaics (solar panels) to schools at reduced cost. Solarcentury’s profits have climbed 47% a year from £2.8m in 2003 to £6m in 2005 and the company’s aim is to sell its products globally. Its August 2007 investment partnership with Zouk Ventures and Good Energies, was put together to fund Solarcentury’s product development and international expansion strategy.

Its history

Solarcentury was founded in 1998, by Jeremy Leggett, to design and supply solar energy panels for buildings. It received its first round of investment that year, and by 2001, it had completed 50 installations across the UK. By 2003 the company had completed 150 installations. The company’s second round of investment was provided by Scottish & Southern Energy (SSE) in 2004. In 2005, The Sunday Times’ Tech Track 100, ranked Solarcentury as the ‘25th Fastest Growing UK Technology Company.’ In 2006, a third round of investment came from Vantage Point Venture Partners (£2m), and SSE (£3.5m). That same year, the company won the UK government’s Low Carbon Buildings Programme contract. In 2007, overseas sales offices were opened in Spain and France, and the company entered a £13.5m investment partnership with Zouk Ventures and Good Energies.

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