Freetricity is a company that provides residential
solar power
Solar power, also known as solar electricity, is the conversion of energy from sunlight into electricity, either directly using photovoltaics (PV) or indirectly using concentrated solar power. Solar panels use the photovoltaic effect to c ...
systems under the
feed-in tariffs in the United Kingdom
A feed-in tariff (FIT) is paid by energy suppliers in the United Kingdom if a property or organisation generates their own electricity using technology such as solar panels or wind turbines and feeds any surplus back to the grid. The FIT scheme w ...
. It was started by
Ben Way
Ben Way is a serial entrepreneur and best selling author best known for his appearance on ''Secret Millionaire'', ''The Startup Kids'' and as a cast member on ''Start-Ups: Silicon Valley'', he started his first company at the age of 15. He went ...
and Paul Williams who met on ''
The Secret Millionaire
''The Secret Millionaire'' is a reality television show which originated in the UK, in which millionaires go incognito into impoverished communities and agree to give away tens of thousands of pounds (or tens of thousands of dollars in the Americ ...
''.
Overview
It is reported that the company has access to between $50 million and $700 million in funding for the UK market. They are registered under the Renewable Energy Assurance Ltd's Renewable Energy Consumer Code (REAL).
Expansion
In 2012, the company entered the
biomass heating system and
heat pump
A heat pump is a device that uses electricity to transfer heat from a colder place to a warmer place. Specifically, the heat pump transfers thermal energy using a heat pump and refrigeration cycle, cooling the cool space and warming the warm s ...
market under the
Renewable Heat Incentive scheme.
They opposed the government ''
Feed-in Tariff
A feed-in tariff (FIT, FiT, standard offer contract,Couture, T., Cory, K., Kreycik, C., Williams, E., (2010)Policymaker's Guide to Feed-in Tariff Policy Design National Renewable Energy Laboratory, U.S. Dept. of Energy advanced renewable tariff, ...
'' (FIT) cuts, in 2011.
References
{{Reflist
External links
Solar Micro InverterFullsent Solar Panel
Solar energy companies