New solar-as-a-service model launched with €20m investment

A new solar-as-a-service model has been launched by Carlow-based company SunArc, backed by a €20 million investment.

The model enables businesses to access solar power without the purchasing and installing solar the panels. Under the model, SunArc manages the installation, maintenance, monitoring, and upgrading of the solar systems on their premises.

Businesses sign up to a Power Purchase Agreement (PPA), under which they purchase the electricity generated by the panels rather than owning the equipment outright.

Businesses who enter into a 15-year PPA will then own their solar system at the end of the agreement. The panels come with a guaranteed operational lifespan of 30 years.

Hybrid

This hybrid business model is the first of its kind in Ireland.

SunArc’s €20 million investment will support the nationwide rollout of the service, the expansion of its Carlow operations, and the creation of 50 new jobs.

Roles will include installation, engineering, manufacturing, maintenance, customer support, management, and renewable energy innovation, increasing the company’s workforce to 80 employees.