Businesses daunted by the high upfront cost of on-site green energy, such as solar panels and wind turbines, could soon take advantage of a new initiative that allows employees to buy stakes in workplace renewable energy schemes.

Not-for-profit energy supplier Ebico recently completed its first project with Cornwall's Eden Project through its new subsidiary, Social Ventures in Energy (SVE).

SVE and the Eden Project created a new enterprise to install two medium-sized rooftop PV arrays and is now offering employees the opportunity to buy shares in the system. Staff have until 9 March to buy a minimum £200 stake in the project, providing them with long-term returns based on the incentives the installation earns through the government's feed-in tariff scheme.

Ebico managing director Phil Levermore told BusinessGreen he is also talking to three other businesses and organisations about launching similar schemes to install wind turbines or solar PV arrays.

He maintained the initiative is designed to reduce the upfront cost of an installation for businesses, at the same time as offering a return on investment to employees who take part.

The Eden Project's 49.5kW solar array was completed on 9 December 2011, three days before the 12 December cut-off date for solar installations to qualify for the higher feed-in tariff. This means any Eden employee will be guaranteed a return based on a feed-in tariff rate of 32.9p/kWh.

Levermore admitted imminent cuts to the solar feed-in tariff scheme could make the model less attractive to new investors, but he claimed it will remain an attractive option for many on-site wind energy and anaerobic digestion schemes.

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