The company says the service – said to be the first of its kind in Britain – will allow homeowners and commercial businesses to benefit from early equity release in rooftop solar PV systems.
PassivSystems said its proprietary energy management software PassivPro provides a fully-automated Feed-in Tariff management suite to help administer FiT registrations and quarterly FiT read submissions via a secure web portal.
This it says allows JES “to simplify the entire process for managing solar PV equity release schemes by providing real-time document storage, auditable workflows, FiT migration and automation, change of ownership, and ongoing operational and maintenance support services”.
PassivSystems chief executive Colin Calder said: “Acquiring solar PV assets from residential and commercial customers used to be a complex and time consuming procedure. Each step requires meticulous data recording. The administration and coordination required to switch FiT licensee, change of ownership and meter exchange can be quite daunting.
“Together with arto.energy we’ve made every effort to simplify this process through automating as much of the process as possible while providing full visibility of the switching process.”
“Often taking up to six weeks to complete an acquisition; we’re now able to reduce this timeframe to just 14 days, from customer signing to project completion.”
Director of Just Energy’s Solar Buyback Division, David Ring said: “Nobody had really thought about the value and investment opportunities offered by solar PV assets and FiT payments. As the founding company of the solar buyback industry, we were the first to realise the potential in this market and the attractiveness of this model for businesses, home owners and investors. Having developed the UK’s first buyback solution, we’re now using PassivPro to acquire and manage between 30 and 50 solar PV systems per month throughout the UK on behalf of our investors.”