PEOPLE are being asked to sign up for a new scheme to put solar panels on up to 25 schools and leisure centres in the Scottish capital in what will be the biggest community energy push of its kind the UK.
Residents are the first to be encouraged to buy shares in the project run by the Edinburgh Community Solar Co-operative, with the minimum share purchase of £250 per person.
Once complete it should generate enough green energy to build a £1 million community fund and save the council nearly a tonne of carbon dioxide every year.
Co-op members will get a projected return of five per cent per year on their share.
Former BBC presenter Heather "the Weather" Reid formally launched the scheme at Gylemuir Primary School.
She said: "I think it is a terrific initiative.
"Scotland’s east coast sees on average more than 1,200 hours of sunshine a year and this is plenty to generate significant amounts of green power.
"It has clearly captured the imagination of the children at Gylemuir Primary School and I hope they are encouraging their parents and grandparents - and even local businesses - to buy some shares.”
Dr Richard Dixon, director of Friends of the Earth Scotland and chairman of the co-op that also involves councillors and energy experts, said: “This share offer is a great way for residents of Edinburgh - and beyond - to become part owner of a renewable energy scheme.
“Anyone in Scotland, in fact anyone in the UK, can apply to buy shares, but preference will be given to people living within the City of Edinburgh Council area.
"In total we are looking to raise £1.4m, and if the offer is, as we hope, oversubscribed, Edinburgh folk will be first in line.
“Every co-op member is projected to receive a return of five per cent on their shares, and any surplus the co-op generates will go towards a Community Benefit Fund which will support new sustainable energy projects across the city.
In the first five years of the project, applications for funding will be invited from users of the buildings on which panels have been installed.
Adam McVey, council vice convener of transport and environment, said: “This a wonderful project and will bring significant long term environmental, social and economic benefits to the city.
“We have an ambitious target of reducing Edinburgh’s carbon emissions by 42 per cent by 2020 and this new community co-operative is an important step towards us achieving this.”
Stephanie Clark, policy manager at Scottish Renewables, said the solar trend is growing and 660,000 such panels are installed across the country.
She said: “The technology allows the public to generate their own power, saving carbon emissions and money.
"Edinburgh Solar Cooperative’s share offer will give many more people - some of whom may not have access to their own rooftop - a chance to share in the benefits solar brings.
“It is important to remember, though, that the solar industry is currently facing UK Government cuts of more than 80 per cent, which would render many schemes unviable.”
Subject to approval, the shares will also be eligible for the income tax relief of 30 per cent on any investment.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereLast Updated:
Report this comment Cancel