Social impact investor Resonance has committed £800,000 to Big Solar Co-op to fund the installation of rooftop solar panels across the UK.
The investment is aimed at reducing carbon emissions by working towards a goal of 100mW of solar panels on commercial and community buildings by 2030.
The project, backed by investment from Resonance Community Developers (RCD), is driving the transition to clean energy, says Big Solar, which hopes it will cut nearly 40,000 tonnes of CO₂ emissions a year.
Tom Crook, investment manager at Resonance, said: “I’m really excited to be supporting Big Solar Co-op and the incredible work it does. The commitment to creating real social and environmental impact is something we truly believe in, and we are proud that this investment will help it grow and make an even bigger difference. We look forward to seeing the positive change it creates.”
The move comes as energy costs continue to bring uncertainty to UK businesses, which are not protected by a price cap, leaving them vulnerable to market fluctuations. While energy rates have fallen from previous peaks, they are still unpredictable, leaving firms exposed to sudden increases.
In this environment, finding cost-saving solutions is crucial, says Big Solar, which is advocating on-site renewable energy, such as solar panels, as a solution – especially for businesses and schools which, unlike homes, tend to have large, flat roofs that are ideal for solar panels.
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The co-op says that a 50kW system could save businesses over £10,561 annually – and also offers energy independence, the potential to sell excess energy, and enhances a company’s eco-friendly reputation.
“The loan from Resonance will enable us to build new solar on the rooftops of buildings across the UK, from schools and leisure facilities to factories and supermarkets,” said Big Solar CEO Jon Hallè. “All of these new solar installations are co-owned by our members on a non-profit basis – we have over 650 members and more are joining us every day.
“With the support from Resonance, we will be able to build new solar installations at the rate of one per month in the first half of 2025.
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“Together they will generate enough electricity to reduce UK carbon emissions by around 350 tonnes a year – that’s enough energy to drive an electric car over 2 million miles.”
Resonance Community Developers is a social investment fund designed to “support and invest in communities looking to create and own assets that meet local needs and help to build cohesion by investing in community-led affordable homes or facilities that benefit the whole community”.
Including this investment, it says it has committed approximately £10m so far into around 30 community groups across 10 English regions.
