Launch of 1066 Local Energy share offer

Hastings will see its first ever community energy investment offer go live this week with residents able to buy shares to fund 250 kilowatts of solar (roughly 1066 panels) on the roof of the Ore campus of East Sussex Coast College. Kate Meakin from the 1066 Local Energy campaign writes.

Energise Sussex Coast and East Sussex College are delighted to invite you to the launch of the 1066 community energy offer. The event will take place on 13 December 2018, 5:30–7:30pm at East Sussex College, Station Plaza.

This is the first community energy investment offer in Hastings. The offer is open to anyone, but especially local residents, local businesses and community organisations. By investing in 1066 community energy, you are supporting the transition to low carbon energy and a fairer energy future and will receive a reasonable return on your investment.

Find out more about the 1066 community energy offer and hear about the transformative potential of community energy. Please RSVP to kate@energisesussexcoast.co.uk.

Largest solar roof top project

The solar roof will supply the college with a significant amount of its electricity at a reduced rate. This will be the largest roof top solar project in the 1066 region. The college will not have to pay for the panels, which will be gifted to them after 25 years when the project ends. Local investors can expect a 5% return (dividend) on their shares.

Community energy offers a real win win to local roof owners and we hope this project will encourage many more to sign up. The college will benefit from cheaper electricity, saving them about £4,250 a year. Profits are kept in the community as local people can invest and receive a fair return and it is great for the planet and the students. It shows how the town can work together to achieve a cleaner energy future.

Call to invest!

Energise Sussex Coast are calling on local people to invest and help raise the £180,000 needed and play their part in making Hastings a solar town with more renewable, locally owned and clean energy.

Leader of the Council, Peter Chowney, writes: “It’s good to see schemes like this taking shape. I want Hastings to be leading the way in shaping a ‘carbon neutral’ economy, so we need to do all we can to generate energy sustainably. Hastings Council has ambitious plans to use our own land and other buildings for energy generation, so I hope the council will be able to work with Energise Sussex Coast to make Hastings a ‘carbon neutral’ town.”

Amber Rudd MP adds: “It is great to see local campaigns such as the 1066 Community Energy Share Offer raising funds and awareness of the importance of sustainable energy. Not only will the solar roof provide subsidised electricity, but it also produces renewable energy for our local community. I hope that other local businesses will follow by example and consider renewable energy sources.”

Collaborative effort

The project is a collaboration between Energise Sussex Coast, Brighton Energy Co-operative and East Sussex College Hastings and marks the first major milestone in the 1066 Local Energy campaign. The campaign, led by Energise Sussex Coast, Transition Town Hastings and the Diocese of Chichester, aims to increase the amount of renewable energy generation under local ownership. Fittingly, the
College roof has space for 1066 solar panels!

Biram Desai, Chief Financial Officer for the college said: “East Sussex College Hastings is delighted to be part of an exciting and innovative project to deliver renewable energy in Ore Valley. The project delivers training and apprenticeship opportunities and educational benefits to our students, staff, stakeholders and local community, alongside real financial benefits to the College via reduced utility bills. In as far as local colleges should be an integral part of their local community, and that ultimately they should support our young people for their future lives ahead, this exciting innovation ticks all the boxes!”

What is community energy?

Community energy is about people coming together to reduce energy use and purchase, manage and generate low carbon heat and power. Community energy projects are often delivered collectively by a group or organisation with a focus
on engagement, local leadership and strong positive outcomes for the local community. Community groups often have distinct, specific localised goals with an overarching benefit of tackling climate change, energy security and making energy affordable.

How do people invest in the college project?

Brighton Energy Co-operative (BEC) raise money for the solar roof via investment from the wider community.

To raise money and install solar panels they sell shares in Brighton Energy Coop, a form of co- operative known as a Community Benefit Society (CBS). To date BEC have raised £ 1.9 million and installed 29 solar arrays (and growing). Shareholders become members of BEC. A CBS is radically different from a normal company – each member in the society has one vote for example (regardless of the amount invested).

They aim to provide new members a return on investment of 5% a year, as they have for all their existing members, starting 12-18 months after each project is installed. 5% of capital is also available for repayment each year.

The minimum shareholding is £300 and the maximum is £100,000. For more details on becoming a Brighton Energy Co-operative member see here.

Will Cottrell, founder and Director of Brighton Energy Co-op, said: “Schools and Colleges sit at the heart of our communities so – as a community organisation – we’re very pleased to help them reduce their electricity bills. Locally-funded renewable energy is a virtuous circle of local investment and local solar projects, and we’re delighted that Ore Valley College has joined the groundswell of educational organisations getting on board with community energy.”

1066 Local Energy Campaign

The campaign aims to increase the amount of locally generated and owned solar power. For more details on the campaign visit www.1066energy.org.uk

Energise Sussex Coast is a local St Leonards based energy co-operative. They are a not for profit Community Benefit Society set up in 2012 to work on projects around renewable energy and energy injustice. For more details visit Energise Sussex Coast.

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