Solar surge triggers £4m acquisition for Good Energy

Following its recent expansion into heat pumps, renewable energy company Good Energy is taking a big step towards its ambition to be the UK’s go-to company for all things solar with the acquisition of installation business Wessex ECOEnergy.

Good Energy acquires solar installer Wessex ECOEnergy after record figures for solar installs.

The announcement comes at a time of significant growth for solar, with the UK recording its biggest quarter for solar installations since 2015. Latest MCS data showed more than 50,000 solar PV installs in the first three months of 2023, an increase of 114% increase on the time last year. 2022 had already been a record year with an increase of 125% on 2021.

Dorchester-based Wessex ECOEnergy has been a trusted provider of solar and storage installs in the South West since 2014. Now part of the Good Energy Group, Wessex ECOEnergy will continue to operate under its established brand.

Having completed 155 installs in 2022, Wessex will be targeting 600 panels installed per month within 18 months following the acquisition by Good Energy who completed its first solar installation in early 2023.

The UK’s second largest administrator of the Feed-in Tariff (FiT) scheme, Good Energy already services over 180,000 solar customers and launched smart export for FiT customers in late 2022.

Multi-billion-pound growth opportunity 

Nigel Pocklington, CEO, Good Energy, said: “Good Energy is fast becoming the UK’s go-to all-in-one solar service company. Bringing Wessex into the business accelerates our solar and storage installations business, as the solar surge continues.

“There is a £5 to £10 billion growth opportunity in clean energy technology installations among climate conscious consumers. With our trusted legacy and green-motivated existing customer base we are positioned to be a major player in this, and are already kitting out homes with heat pumps, solar and batteries. Now we’re supercharging our solar services.”

Daniel Cole, Director and Co-founder, Wessex ECOEnergy said: “Solar power and storage are going to be crucial technologies for cutting the UK’s carbon and addressing climate change, so it is superb to see it surge in popularity.

“Having grown our business through trust and word-of-mouth, now is the perfect time to take it to the next stage.”