How the Deal works
We develop it.
You earn from it.
Then it's yours.
Under the Black Glass Deal, a funding vehicle pays for the full rooftop solar installation, with zero capital outlay by you. Here is every stage, where the money goes and what you commit to. Most of the work is ours. The parts that are yours are listed in full, so nothing arrives as a surprise.
The five stages
| Stage | What we do | What you do |
|---|---|---|
| 01 Roof assessment | We assess structure, orientation, shading and energy use, then give you an indicative figure with the basis for each number. | Share basic building details and give a surveyor access to the roof. |
| 02 Agreement | We set out the full terms in writing: term, payments, maintenance and what happens on a sale. | Review the terms with your solicitor and accountant. Sign the funding agreement if they stand up. |
| 03 Installation | We arrange the funding, appoint and manage an accredited main contractor to install the system, and handle the grid connection and paperwork. | Give roof access during installation. We agree timings and any tenant notice with you first. |
| 04 Income | We monitor and maintain the system for the term of the agreement. | Sell the energy to your tenants and keep the margin after your fixed payments to the funding vehicle. |
| 05 End of term | Hand the system over. Ownership passes to you automatically, and your payments end. | Keep everything it generates, and take over its maintenance. |
Where the money goes
The roof earns.
Your payments go to the funding vehicle, not to us.
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Energy income
You sell what the roof generates to your tenants, and any surplus is exported to the grid. If you occupy part of the building yourself, you can use the electricity there and buy less from the grid.
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Your payments
There's no capital outlay, but there are payments. Over the term of the agreement you make fixed, scheduled payments to the funding vehicle that finances your installation. The energy income is designed to cover them, but the payments are due whatever the building earns, including during voids.
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Your margin
What's left after your payments is yours, for the term of the agreement. The split varies by building and is shown in your assessment. We can provide an illustrative example for your building when you request an assessment.
How we're paid. Black Glass Capital doesn't receive your payments. We're paid by the funding vehicle: a development fee for each building and a maintenance fee for the life of the agreement.
Some qualifying projects may also receive an upfront payment. This is assessed case by case and is not part of every offer.
The usual arrangement
A typical Power Purchase Agreement puts solar on your roof
and the income in someone else's account.
| Question | Typical Power Purchase Agreement | The Black Glass Deal |
|---|---|---|
| Who owns the system | The funder owns the system | Ownership passes to you automatically at the end of the term |
| Who sells the energy | The energy company | You |
| Who claims capital allowances | The energy company | You, subject to advice |
| Who keeps the margin | The energy company | You, after your payments |
| Capital outlay | None | None |
Comparison of typical structures. Individual Power Purchase Agreement terms vary. Capital allowances may be available. Your accountant will confirm what applies to you.
The catch
What you commit to, before you ask.
There are obligations, and we'd rather you heard them from us. Your solicitor will see them all in the funding agreement.
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A long-term agreement
The agreement runs for 20 to 25 years. You see every obligation in writing before you sign.
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Roof access
For installation, and for maintenance during the term. We agree access arrangements with you in advance.
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Fixed payments
You make fixed, scheduled payments to the funding vehicle for the term. The energy income is designed to cover them, but the payments are due whatever the building earns, including during voids.
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Your lender, if there is one
If the building is mortgaged, your lender will usually need to consent. We help you prepare what they ask for.