Community owned solar power
Kingston Community Energy is a not-for-profit cooperative enterprise. Our vision is for community-owned decentralised renewable energy across the Royal Borough of Kingston. Our aim is to install a solar PV array on the roofs of community buildings, providing the building owners with low cost electricity which will both enable them to shield themselves against fluctuating energy costs and predicted price hikes over the coming years and reduce the carbon emissions responsible for climate change.
This is the local community's opportunity to come together and make a social investment into our local area and to receive a moderate financial reward for that investment. How does the scheme work?
Our model for building and financing our solar PV array is based on one that has been tested widely across the country. Having established the site for our solar PV array we intend to raise finance through a community share offer where local people have the opportunity to invest. The solar PV array will be registered under the Government’s Feed-in Tariff (FIT) programme, which requires energy companies to pay a tariff for the generation and export of energy for 20 years. This FIT will repay the money that the local community lends to the community enterprise. In addition to a moderate financial reward for their investment, investors will know that they are helping to reduce UK carbon emissions and saving the building owner money on their annual electricity bill.
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