Co-operative ownership of renewable energy is not new.\u00a0 In Denmark 23% of the country\u2019s energy supply comes from 3,000 wind turbines owned by approximately 150,000 co-operative members.\u00a0 In 1997, Baywind in Cumbria became the first community owned renewable installation in the UK.\u00a0 It has been paying out interest to members on an annual basis ever since.\u00a0 As a result, Baywind was inundated with questions from other community groups wanting to do the same thing and this led to the creation of Energy4All in 2002.\u00a0 Since then Energy4All has helped to set up 7 wind co-operatives in the UK with over 6,000 members. \u00a0This has led to communities all over the UK starting to set up other wind, hydropower and solar co-operatives along similar lines to these original wind co-ops.<\/p>\n
Co-operatives are democratic structures with the legal ability to raise money directly from members of the public.\u00a0 With a one member one vote system and a board elected from the membership, they offer a fair and transparent way to operate a community owned renewable energy business.\u00a0 They also have the power to prioritise investment from the local area, ensuring that as much as possible, financial benefits from renewable energy are felt by people in the locality.\u00a0 They are registered and regulated by the Financial Services Authority (FSA).<\/p>\n
The introduction of Feed in Tariffs (FIT) in April 2010 has started to create more financially viable opportunities for communities to own a range of renewable energy installations at medium scale.<\/p>\n
An Industrial and Provident Society is a legal form providing the structure of a co-operative. It is owned by and operated for the benefit of its members and\/or the community. Members elect directors and each member has one vote in a members\u2019 meeting regardless of the number of shares held. \u00a0Members are protected by limited liability and are only obliged to contribute the initial cost of their shares. \u00a0An Industrial and Provident Society is governed by Rules, largely in standard form, which are approved by and registered with the Financial Services Authority. \u00a0A copy of Leominster Community Solar Co-operative\u2019s Rules is available from the downloads sectin of this website or by application to the Co-operative.<\/p>\n","protected":false},"excerpt":{"rendered":"
Co-operative ownership of renewable energy is not new.\u00a0 In Denmark 23% of the country\u2019s energy supply comes from 3,000 wind turbines owned by approximately 150,000 co-operative members.\u00a0 In 1997, Baywind in Cumbria became the first community owned renewable installation in … Continue reading