Solar Energy Plants Roots Across the Pond

There’s been a lot of buzz in the United States when it comes to the use of solar power. It seems the commotion has traveled by leaps and bounds across the ocean, as the UK has just made a huge solar announcement. Marks & Spencer, a retail giant overseas, will be installing solar panels on nine of its 852 UK locations. This might not sound like anything incredible, but the way they are funding the install is really out of this world.

Marks & Spencer created the M&S Energy Society, and with the help of a non-profit, have started a crowdfunding campaign to raise money for the panels. The amazing part is that in exchange for investing in the project, people will receive shares of M&S Energy Society. The cost ranges from just over $100 to the six-figure range, so pretty much anyone who wants to be a part of the campaign can do so. The company projects that the shares will reap a return of about 5% over the next 20 years.

Furthering the community spirit even more, the stores will keep an eye out for any profits from excess energy. Rather than keeping it themselves, they will invest it to help other local stores make the switch to solar. A partnership like this between M&S Energy Society and its local community is a shining example of really working together to create a better environment in a more sustainable way.

Other retailers in the UK have also taken Marks & Spencer’s train of thought and have begun installing solar panels of their own. It’s said that Kingfisher, a hardware company, has spent over $70 million on their own project, while another large grocery chain has installed close to 200,000 panels on their buildings. Although the UK is cloudy, the decision to switch to solar is so clear and so worthwhile that they won’t let a few clouds get in their way.