Edinburgh Community Solar Co-Operative

On September 29th 2015 the Edinburgh Community Solar Co-operative formally launched its share offer – giving everyone in Edinburgh the opportunity to buy shares in what could become the UK's largest community-owned urban renewable energy project. To download a copy of the share offer document please visit www. edinburghsolar. coop This new innovative Society is looking to raise £1. 4 million in community shares, which will fund the installation of solar panels on 25 public buildings across the capital. Those who buy shares will become a co-owner of the scheme, which is open to everyone from young people to pensioners, as well as local businesses. The majority of buildings are schools – all owned by the City of Edinburgh Council –and once installed, the energy generated by the panels will be used on site by the buildings, saving nearly a thousand tonnes of carbon dioxide every year. The council will buy the electricity from the co-op on a 20-year fixed price deal, which with the FiT will give the co-op a secure sustainable long-term income. After paying a predicted annual 5% return on the shares, any profit the co-op generates from the scheme will go towards a Community Benefit Fund. There is also a tax credit available to those who invest before November 27th. This allows UK income tax payers to claim 30% of their investment back on their tax bill soon after the project starts generating income.
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Keywords: hardware