A COMPANY in Dorset believes it is set to change the future of solar power by making it viable without government subsidies.

Zestec Asset Management says it has developed a funding model which works despite the government’s recent substantial cuts to subsidies for clean energy.

The Ferndown-based company enables customers to generate electricity under a solar photovoltaic (PV) power purchase agreement (PPA).

It says customers are protected from energy bill increases, as the PPA is pegged to retail price inflation.

Managing director Simon Booth said: “For many years the installation of commercial solar PV has largely only been economically viable with the help of government subsidies.

“In recent years the government has severely cut its subsidies and the industry and clients have suffered.

“We have created a funding model which provides clients with significantly reduced long-term electricity costs without need for the support of any government subsidy.

“This subsidy-free model ensures access to clean, green electricity for organisations operating in the private and public sector.”

Zestec manages and develops solar PV assets on behalf of institutional and private investors.

It says its multi-million pound funding means it can rapidly develop new commercial PV systems and acquire existing ones under a buy-back scheme.

Mr Booth said: “We partner with solar PV installers and leading equipment manufacturers to provide clients with solar systems that deliver predictable and reliable electricity savings over a 25-year period.“We are passionate about renewable energy and believe we can make a difference in the fight against climate change without support from government subsidies.”

The company has been in the energy business since 2011 and has one Dorset client set to install around 1,480 solar panels with a capacity of 400 kilowatt ‘peak’ (kWp). Savings are projected at £50,000 for the first five years and £840,000 across the 25-year air-space lease period.

Mr Booth added: “An energy mix dominated by fossil fuels is soon to be a thing of the past. Providing decentralised renewable electricity generation, where power is generated at the point of use, is as important for the UK’s future energy security as cutting carbon emissions.”