Edinburgh Community Solar Co-operative (ECSC) has launched a new share offer campaign to raise £1.13 million to install solar panels on 10 rooftop locations across the city, including the Royal Commonwealth Pool and five schools.
ECSC are inviting Edinburgh residents to become members of the co-operative by investing a minimum of £25 in the scheme, with a projected annual interest rate of 5%.
Since launching in 2015, ECSC has installed solar PV on 30 sites across Edinburgh, including the city’s council offices, 17 schools and multiple leisure centres.
Its 700 members have so far collectively supported the co-op to generate more than 14 million kWh of energy. ECSC estimates its existing solar sites have already saved more than 2,000 tonnes of CO₂, as well as saving the council almost £850,000 on their energy bills.
The co-operative also distributes part of its annual profits to local groups via its community benefit fund, with more than £100,000 donated to support youth projects, community groups, schools, parks and green spaces across Edinburgh.
ECSC has received funding from the Scottish Government’s Community and Renewable Energy Scheme to develop the share offer. It is also supported by the UK’s secondary co-op for the sector, Energy4All, and Development Trusts Association Scotland’s Democratic Finance Scotland programme.
ECSC chair Vicki Taylor said: “This is an exciting next phase for our co-op, putting hundreds of community-owned solar panels on even more buildings across the city. Every installation generates more clean, green energy and helps reduce Edinburgh’s carbon emissions.
“Investing in Edinburgh Community Solar Co-op means keeping wealth in Edinburgh – generating returns that stay local and help fund community projects, rather than profits flowing elsewhere. It gives local people the opportunity to invest in something they care about, making community investment accessible to everyone.”
The move was also welcomed by Edinburgh City Council Leader, Jane Meagher. “Since its launch, the Edinburgh Community Solar Co-op has made savings in both energy costs and carbon emissions, as well as giving back to valuable community projects,” she said.
“I’m delighted that the Council continues to be closely involved with the scheme, with solar panels set for more of our buildings, and I’d encourage anyone with an interest to take part themselves through the latest share offer.”
Find out more and apply to join the co-operative on Edinburgh Community Solar Co-op’s website at www.edinburghsolar.coop.
