Excess electricity generated will be sold to the grid. Initial panels are to be installed by the end of summer 2025 which will save schools money for the next academic year, according to the government.
At present, only about 20% of schools and less than 10% of hospitals have solar panels installed. The GB Energy project will select school buildings in areas of deprivation in the North East, West Midlands and North West, as well as at least 10 schools in each region.
If batteries are installed alongside solar panels, a typical school can save up to £25,000/year, while an average NHS site can save up to £45,000/year on their annual energy bill with solar panels and batteries, as per government estimates.
“Great British Energy’s first major project will be to help our vital public institutions save hundreds of millions on bills to reinvest on the frontline. Great British Energy will provide power for pupils and patients,” said Energy Secretary Ed Miliband.
The country’s solar energy association Solar Energy UK’s Chief Executive Chris Hewett welcomed the investment, calling it a wise piece of public investment. According to him, ‘every penny’ spent on solar PV and energy storage for public buildings means more cash for other essential services in the country.
Heading the zero carbon schools campaign Let’s Go Zero, Alex Green added, “At Let’s Go Zero we see solar on schools is a proven success—cutting bills, inspiring young people, and strengthening vital public services.”
GB Energy has been launched to own and invest in clean energy projects across the UK. It will establish itself as an expert development partner to develop, invest in, and build and operate such projects.
Financial support for the GB Energy projects will be provided by the National Wealth Fund (NWF), which is the UK government’s principal investor and policy bank. The NWF will help unlock more than £70 billion in private investment to make Britain a ‘clean energy superpower,’ strengthen the defense sector and help deliver economic growth.
