UK’s First Inner-City Community-Owned Solar Power Station Launched

Brixton Energy (UK) is launching Britain’s first inner-city community-owned solar power station. The power station will generate clean, green electricity for one of the most economically deprived areas in the UK.

The ‘Solar 1’ project will see several hundred square metres of solar panels installed on the roofs of residential buildings within the Loughborough Estate in Brixton. Over its 25-year lifespan, the Brixton Energy Solar 1 project will: generate clean electricity, reduce the carbon footprint of Brixton, raise funds to improve the energy efficiency of cold homes in the area and provide shareholders with a decent annual return on their investment, Brixton Energy’s share offer is seeking to raise £75,000 to fund the capital cost of the installation. Once installed, the panels will generate a steady revenue stream from the government’s Feed-in Tariff scheme.

An investment in Brixton Energy Solar 1 is an investment in the future of Brixton. Investors can support the project with anything from £250 to £20,000. The group’s new prospectus describes how this money will be put to good use while also providing an annual return of up to 3% for investors. The share offer closes on March 10th – and the panels should be up and running three weeks later.

A portion of the income generated from ‘Solar 1’ will be reinvested in a Community Energy Efficiency Fund. This Fund will support energy-saving improvements in the local area, such as draught proofing, insulation and education on energy efficiency.