Current community share offer

We are pleased to announce that our second solar share offer is now live and you may purchase community shares.

This time we are setting our sights even bigger and hoping to raise £950,000 to fund solar PV installations on more of Plymouth’s schools and community buildings, including the iconic Plymouth Life Centre (which could become the biggest solar roof in Plymouth and an installation bigger than all the sites in our first share offer combined).

The solar installations will help reduce energy bills for the host building, provide great educational benefits and the surplus funds will be transferred to Plymouth Energy Community to continue to tackle the challenges of energy costs, fuel poverty and climate change.

DOWNLOAD THE SHARE OFFER PROSPECTUS PURCHASE SHARES

If you would like a paper copy of the prospectus sent to you, please contact support@plymouthenergycommunity.com with your address. Please note that these will be available from 25 February.


How it works

Anyone aged 16 years or over, is now able to ‘co-own’ some of this solar scheme by buying shares. Shares cost £1 with a minimum investment of £50 and a maximum investment of £100,000.

An intended average of 6% will be offered to members; up to 10.5% if you qualify for tax relief through the Government’s Enterprise Investment Scheme (EIS) or, from April 2015, Social Investment Tax Relief (SITR).

We are again fortunate to have the backing of Plymouth City Council, and funds raised from this Share Offer will be supplemented by a £500,000 loan facility from them.

When the panels are installed, PEC Renewables will be paid by the host buildings for the solar energy that they use (at a reduced rate) and we will sell surplus energy back to the grid. In addition, we will receive a government subsidy called the Feed-in Tariff for every kW generated. These funds are then used to manage and maintain the arrays and also to pay interest back to you, as a community shareholder.

The installations to be funded by this Offer and those already installed are expected to generate over £1.2million of surplus community income over the next 20 years. This allows support of current and future projects that tackle fuel poverty and climate change for years to come (read more below). Click here to read about success of our first solar share offer and our installations to date.

If you purchase shares, you will become a member of PEC Renewables and are entitled to vote. This means that you also have an equal say on how to make the initiative a success.

Your support benefits your community.

DOWNLOAD THE SHARE OFFER PROSPECTUS

Download the PEC Renewables Society Rules that govern the organisation.


How your community benefits

Please take time to browse through the rest of our website and see what amazing changes our team, volunteers and members are already achieving on the ground in Plymouth. Additionally, click on the links below to see a summary.

Plymouth Energy Community current projects & achievements to date

Since it was established, Plymouth Energy Community’s activities have included:

  • Launch of a Fuel Debt Advice Service to help residents in arrears apply for funding to clear their debt. This programme has cleared over £40,000 fuel bill debt in only nine months, from over 350 referrals.
  • Promotion of grant schemes for free cavity and loft insulation and subsidised external wall insulation. Over 23,000 households have been targeted, with nearly 1000 surveys completed. As a result, the measures installed will save residents over £750,000 over the lifetime of the measures, reducing heating bills by up to one third (average £260 per year per household).
  • Providing energy tariff advice to over 600 households, offering average savings of £180 per year.
  • Training energy champions, who have attended over 80 community events, supported over 280 residents and subsequently trained 100 frontline staff, who in turn reach hundreds of vulnerable energy consumers.
  • Providing energy efficiency information through events, online and offline communication channels (since Feb 2014; attended or presented at over 120 events and held six member events).
  • Employing two energy marketing apprentices, supporting skills-based employment in Plymouth.
  • Launching a volunteer programme training 30 community volunteers to provide free home energy advice visits to more than 200 households in Plymouth at risk of fuel poverty. Volunteers will enable residents to save a total of £16,000 in 1 year on energy costs. Their wider community work will provide direct energy saving knowledge to over 800 residents.
  • Projects in development

  • We are exploring the opportunity to partner with OVO Energy to join their innovative OVO Communities scheme; creating competitive local tariffs for local householders, which in turn will create further community benefit funds. We hope to launch in Autumn 2015.

  • We would like to provide an installer referral service: ensuring Plymouth residents have easy access to a range of accredited and endorsed renewable energy and efficiency measure installers.

  • We are currently working on securing funding for feasibility studies to be carried out on our third share offer.




  • How you benefit

    If you’re thinking of supporting our scheme by purchasing shares, here are some of the benefits to you:

    ✓ Help generate over £1.2 million of income for Plymouth Energy Community to continue to tackle the challenges of energy costs, fuel poverty and climate change
    ✓ Supporting schools and community buildings to get free solar panels
    ✓ Be part of a multi award-winning organisation
    ✓ One member, one vote – all Members have an equal say in decisions put to Members
    ✓ Members earn an intended average share interest of 6% per year
    ✓ Up to 30% of your investment back as income tax relief through EIS (until 5th April) or SITR
    ✓ Potential tax savings through capital gains deferral and loss relief
    ✓ Inheritance tax exempt – an income-earning asset that you can leave to your family.

    As with any investment product, there are risks. All investors should ensure they fully read the Share Offer Prospectus before investing.


    Purchase shares and become a member of PEC Renewables

    We have partnered with Ethex, the UK’s first not for profit positive investment website, to help make your share purchase easy to understand and do. Once you have read our prospectus and the PEC Renewables Society Rules and are ready to invest, please click the button below to be taken through to the Ethex website to complete your purchase.

    PURCHASE SHARES


    Community Share Offer Information Events

    If you would like us to attend an event or to present to your group or organisation about the share offer, please contact us on 01752477117 or email support@plymouthenergycommunity.com


    Please shout about it!

    Whether or not you are able to invest, please support us by letting as many people as possible know about this special opportunity. You can forward a link to this page on, like us on Facebook, follow us on Twitter @plymenergycom and tweet about #bigsolarroof.

    Click here to download a poster about the share offer.
    Click here to download our A5 leaflet about the share offer.
    Click here to download sample newsletter text about the share offer.


    Share purchase FAQs

    Who are Ethex?

    Once the share offer goes live, you will be directed from our website to the Ethex website. Ethex is the UK's first not for profit website designed to make positive investment easy to understand and do. A growing number of individuals are interested to invest positively for social and environmental returns as well as financial; actively investing in businesses because of what they do, not what they don’t do. Through Ethex investors can actively invest in businesses they believe in, and social businesses can find the investment they need to grow. Ethex is promoting our share offer and managing the share offer administration on behalf of PEC Renewables.


    Our partners

    The success of our first share offer was thanks to the support of our partners, who we are once again teaming up with for our second: