Chase Community Solar, working alongside Cannock Chase District Council has what appears a ground-breaking initiative. They’ve created a Community Benefit Society to install PV solar panels on the roofs of council properties.

The council tenants or leaseholders will receive £100-£200 of their electric bills for hosting PV solar panels on their roofs.

This is funded by people investing a minimum of £100 with a 7% projected rate of return for 20 years from selling electricity generated by the solar panels to pay this interest and expenses. Bit better than 0.5% with any money sitting in the bank. The capital raised pays for PV cells to be bought and installed. Additionally community shares are eligible for 30% tax relief through the Enterprise Investment Scheme. So this appears a cracking deal for local investors as well.

Solar energy can play a key part improving energy efficiency, as well as helping the environment by reducing carbon emissions, but the cost of installing panels is a deterrent. Community share issues such as this may be an ideal solution. Those who put up their cash not only help to improve their community but may also get a decent rate of return. The project is also very attractive to councils as it helps both their tenants and their carbon footprint.

When will we create Dulwich Community Solar?