Speak EV - Electric Car Forums banner

1 - 13 of 13 Posts

·
EVEZY code -£50 off: d409e
Joined
·
1,871 Posts
Discussion Starter #1

Ripple have announced they've partnered with Co-op energy, so Octopus then..


130024


130023


'Still no mention of what happens if 'you' generate more kWh than you use. Does it build up as credit, or is it 'lost'?

130027


130025
 

·
Registered
Joined
·
188 Posts
it’s an interesting idea. The savings are split between share repayments of 5% per year for 20 years, and you get charged monthly for very low price electricity so the project is able to pay for maintainence and staff. So the break even isn’t composed entirely of direct savings. In fact I wouldn’t even consider 15 years a relevant number, you’ll be tied in for 20 unless you leave the project early and get a refund.

my question would be, I live in a flat currently and 5 years from now I move to a larger house. The project shares are all taken now, so I can’t buy more to cover more family members or an EV. So would I be using two suppliers? It’s not clear. I’m sure an email would get an answer.
 

·
Registered
Joined
·
4,325 Posts
As any onshore wind farm doesn't produce a consistent amount of power the supply you get is market based and hence flexible. It will be discounted by your share of the profit made from running the wind farm and hence appear lower cost, but only on the basis of your monthly bill not on price per kWh you are charged as that would vary by the second based on demand and supply.
So if you use more than your share after lifestyle changes such as a bigger property, an EV, heat pumps etc then they will supply it but your share of the profit remains the same meaning your actual cost/kWh increases. There will be a market (controlled by the Co-op) where you can buy and sell your shares so if you have more money later then you could increase your share to cover the increase in usage.
 

·
Registered
Joined
·
894 Posts
Seems to be a hybrid between a few things. There’s a bit of community energy project in there, electricity supply and direct investment into a generation business.
Might be a good bridge for some of us. I’d love to be part of a community energy project, but I am not the only one around here who doesn’t want to organise one, so unlikely to happen. I also haven’t been brave enough to stick my money where my mouth is in the open market.
 

·
Registered
Joined
·
894 Posts
To get 100% of my energy use produced by ripple is about the same cost as sticking solar on my roof.
The solar however wouldn’t produce enough power to cover 100% of my electricity use.
 

·
Registered
Joined
·
894 Posts
Of course once the solars on my roof I don’t have to pay industry levies and a daily standing charge, but I guess I’m gonna have to pay those anyway.
 

·
Registered
Joined
·
4,325 Posts
Unless you are willing to go off grid. ;)
 
1 - 13 of 13 Posts
Top