Reading’s first community solar scheme is launched

Author
Author's position
Article date
11 July 2016
Primary interest
Funding and Fundraising

Reading Community Energy logo

Reading Community Energy Society (RCES) have launched an opportunity to buy shares in solar panels that will be put on local community centres. Local people are invited to invest in the scheme, which is open for a few more days.

16 local community buildings have put their roofs forward to receive solar panels, which will earn the feed in tariff and generate a community fund to help vulnerable people in Reading. The community buildings also benefit by lowering their energy bills.

The first phase of shares are open to investors until Friday 15th July. The minimum you can invest is £200, with an estimated return of around 5%. £450,000 is needed to complete the project – which will see 1,400 solar panels installed.

Directors of RCES would like you to read the share offer document to understand the risks of investing. However, the project has the backing of the Reading Climate Change Partnership, Reading Borough Council, and Energy 4 All. Energy 4 All have supported 20 similar projects nation-wide – with a 100% success rate.

Go to the website to register and download a copy of the share offer document. You can apply by post, or send your scanned in application form to info@readingenergy.coop.