Energise Barnsley Projects
A community energy record number ‘321′ council owned homes have received free solar PV assets.
We successfully raised £3.3 million through our Solar Bond III issue, to add to the £1.7 million raised in our Solar Bond II issue.
Barnsley Solar
Barnsley Solar Bond I
A community energy record number ‘321′ council owned homes have received free solar PV assets. Over 75% of the houses are bungalows, in which elderly tenants live and 25% of our residents are on pre-payment meters.
The contractor for the installations was British Gas Solar, who has warranted the performance of the systems.
All homes have benefitted from a solar electricity monitor which helps residents maximise their savings by indicating when the solar panels are generating and when to use the free electricity.
In the first year, the tenants saved over £40,000 in reduced electricity bills, with the systems generating over 800 MWh’s of electricity, and over 400 tonnes of reduced carbon emissions.
In addition 16 non-domestic properties have been installed on, consisting of schools, sheltered housing blocks and community buildings. The combined size of the portfolio is the largest UK community energy project by the number of roofs installed on.
Social Impact
Social impact from the project is a key driving factor and at all stages of the scheme we have tried to maximise the benefits for our community. In addition to the tenants electricity savings, there is a large proportion (over 40%) of the community members from the Yorkshire region, and the first distribution of the community fund (value £20,000 year one) has taken place.
Our project aims to:
- reduce levels of fuel poverty
- help support the most vulnerable in our community
- develop our community’s resilience
- reduce carbon emissions from the Barnsley area
- educate residents on energy saving and other low carbon technologies
- demonstrate how communities can work with local authorities to deliver long-term sustainable infrastructure
The community Bond
The solar Bond
The ‘Barnsley Solar Bond’ Issue I raised an initial £800,000 in community finance and a £1.2 million variable rate loan from Charity Bank, an ethical lender, over three months in the summer of 2016.
The ‘Barnsley Solar Bond’ completed two sets of due diligence, one for a social impact fund, and a bank.
The Charity Bank loan was repaid early, through our Solar Bond II raise, in full, by community bondholders
Future Projects
We are continuously working on fantastic innovation projects