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Edinburgh residents are being invited to invest in the city’s renewable energy future through a new £1.13 million community solar share offer.
The Edinburgh Community Solar Co-operative (ECSC) aims to raise the money to fund solar panel installations on 10 public and community buildings, including the Royal Commonwealth Pool and five schools.
Edinburgh Solar Cooperative. (Image: Supplied)
Residents can become members by investing from £25, with a projected annual return of 5%.
Since launching in 2015, the co-operative has installed solar panels at 30 sites, including 17 schools, council offices at Waverley Court and several leisure centres.
The existing installations are estimated to have saved more than 2,000 tonnes of carbon dioxide and almost £850,000 in council energy bills.
Edinburgh Solar Cooperative. (Image: Supplied)
The scheme also operates a community benefit fund, distributing a portion of profits to local charities and groups. More than £100,000 has so far supported youth projects, community organisations, schools, parks and green spaces across Edinburgh.
The latest share offer has been developed with funding from the Scottish Government’s Community and Renewable Energy Scheme (CARES). It is supported by Energy4All and Democratic Finance Scotland, part of the Development Trusts Association Scotland.
The co-operative model allows residents to collectively own renewable energy assets and share in their financial and environmental benefits, keeping investment within the community.
Edinburgh Solar Cooperative. (Image: Supplied)
Since 2015, ECSC has generated more than 14 million kWh of renewable electricity and now has nearly 700 members.
The scheme also reflects wider efforts to promote community ownership of renewable energy. Great British Energy’s Local Power Plan identifies rooftop solar on community and public buildings as an opportunity to reduce energy bills, improve energy security and deliver local benefits.
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Vicki Taylor, chair of the Edinburgh Community Solar Co-operative, 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.”
Jane Meagher, council leader, said: “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.
“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.”
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