Social housing association, the Peabody Trust, has assigned £23 million to be spent on installing solar panels on its London-based housing.

The generous investment is aimed at contributing to make Peabody a carbon-neutral business by 2020.

While funds have been gathered to install the panels, Peabody is currently looking for a contactor to carry out the work. The investment in a solar photovoltaic system will be funded through the government’s Feed-in Tariff scheme.  This scheme will pay for every unit of electricity produced through the panels and will in turn pay for the cost of the installation.

The installation process is envisaged to run for approximately 18 months, nonetheless Peabody aims to have the substantial part of the job completed by April next year.

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