Two community energy projects are looking for local investors.
Firstly, The Edinburgh Community Solar Co-operative is calling for people to register their interest in a scheme that could turn out to be the largest community-owned urban renewable energy project in the UK.
The Co-op, with the backing of the council, aims to install solar panels on around 25 council buildings throughout Edinburgh.
The energy generated by the installations will help to make future cost savings while reducing the capital’s carbon emissions by an estimated 855 tonnes a year.
Buildings that are chosen to participate will benefit from cheaper electricity from the solar panels, resulting in substantial savings. Any surplus energy will be sold to the National Grid and profits made by the project will be reinvested locally through a newly-created Community Benefit Fund.
Shares will be offered to organisations or individuals who want to invest in the initiative, with priority allocation given to Edinburgh residents. Anyone interested in becoming members of the Co-op can register their interest via the ECSC’s website.
Members of the Co-op will receive annual interest on their investment (capped at five percent increasing with RPI), with any surplus profit invested in the Community Benefit fund.
The panels will also be a useful resource for educational projects. Each device will come with a real-time display of electricity generation which will be displayed on the buildings and accessible to pupils online.
Dr Richard Dixon, Chair of the ECSC, said: “2015 is an important year for climate change, with the world’s nations supposed to agree new global targets in Paris at the end of the year. Around the world local people are creating their own solutions to climate change by investing in local renewable energy schemes.
“The Edinburgh scheme is a winner all round because it will reduce climate emissions and provide cheap energy for schools and other Council buildings. Local people will also get a decent return on any money they choose to invest.”
Work is currently underway to identify suitable sites for the solar panels and the chosen locations will be announced at a later date.
You can register your interest in the scheme on the Edinburgh Community Solar Cooperative website.
Meanwhile, the Heartland Community Wind project is offering investors a chance to buy-in to a wind energy scheme in Perthshire with a minimum investment of £100.