Solar Panels




Share Offer

South Somerset Community Energy is delighted to announce its third share offer, to raise capital for the Holyrood Academy solar panel project.

This project will have a capacity of about 90 Kw and will save the school an estimated £6,000 a year in energy costs. About 369 solar panels and six inverters will be fitted to Holyrood and the system will be installed and registered by the end of September.

We applied for pre-accreditation of this scheme by the deadline of 30th September 2015 to take advantage of the Feed In Tariffs before the government drastically reduced them last year. However it took many months for the scheme to be pre-accredited by Ofgem due to the huge backlog of applications submitted at the last minute.  It has also been legally complex in this case to negotiate the lease of the roof space, but that has now been resolved to the satisfaction of all parties.

This share offer will raise up to £120,000 for the project which, like all previous projects, will repay investors mainly through Feed In and Export Tariffs.

South Somerset Community Energy has now successfully fitted solar generating systems to three schools / community buildings

  • Westfield Academy, Yeovil
  • Abbey Manor community hall
  • Stanchester Academy, Stoke sub Hamdon

The Stanchester scheme will also be registered by the end of September. It is of a similar capacity to Holyrood and also has panels on both the sports hall and the main buildings. It was funded by the Society’s second share offer.

The Prospectus for the third share offer may be found in the Downloads section. This gives all the information necessary to apply for £1 shares (minimum quantity 250, maximum 25,000 per applicant).

The target annual interest rate is 6% per annum, which we think is attractive, as interest rates from other investments remain very low. The Society repaid investors in 2015 at the target 6%, and its forward business plan predicts that this will be possible in the foreseeable future.

Since the pre-accreditation for community energy groups was withdrawn at the end of September 2015 with a 12-month allowance for installation and registration (ie. to the end of this month), this offer will be one of the final ones that benefits from the previously high Feed In Tariffs.

Please read the risk section clearly and if in any doubt be sure to obtain professional financial advice.

 

Go to the DOWLOAD CENTRE and click on 'CURRENT SHARE OFFER' from the menu at left

 


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