It was announced in April 2023, that the planned Derril Water Solar Park, in northwest Devon, will be shared to supply 14,000 homes with renewable electricity. The development, planned by Ripple Energy and RES, also known as Renewable Energy Systems, allows local homeowners and businesses to buy into the project to own a part of it.
10% of the project has been put aside for this purpose. The other 90% of shares will be available to be purchased by other homeowners and businesses across Britain.
Depending on how much energy is generated and the size of their share, homeowners can enjoy the benefit of savings on their energy bills.
The generation capacity of the solar park should reach 42MW, and it aims to reduce greenhouse gas emissions by up to 19,000 tonnes of CO2 annually. Other environmental benefits of this solar park include little effect on the local biodiversity. The infrastructure of the solar park is set to only affect 4% of the land that it covers. Allowing the local biodiversity to thrive, and sheep will be able to remain co-habiting within the remaining 96% of unaffected land.
CEO and Founder of Ripple Energy, Sarah Merrick has stated that the solar park will: