OUR SHARE OFFER IS LIVE!
We want to unlock the huge potential of rooftop solar on community and commercial buildings across the UK. To achieve the first phase of our target – 100 MW by 2030 – we have now launched our share offer to the public. This aims to raise £1.2 million to build three solar installations in the Midlands and continue to develop a pipeline of rooftop arrays.
Jon Hallé, co-founder, Big Solar Co-op, said: “Our starting point is, how do we get solar on more large rooftops in the UK? There are hundreds of thousands of potentially suitable buildings which still do not have solar PV. We calculate that these could contribute at least 5 GW of solar capacity.
“We’ve come up with an offer which is much more appealing to big energy users than commercial rent-a-roof schemes. Our terms are more flexible and as a carbon-first organisation we are not taking big profits out so the savings to host sites are significant.
“We also have a great offer for volunteers who want to make more solar happen in their neighbourhood. By operating across the UK and providing support through a broad network we can make it happen together and make a difference to climate change.”
Our first three rooftop installations will be 300 kWp on a food-processing plant in Tenbury Wells; 120 kWp on a farm machinery manufacturer in Ludlow; and 30 kWp on a doctors’ surgery in Birmingham, to include electric vehicle charging powered by the solar array. A substantial pipeline of other large rooftop sites across the UK is also under development.
The share offer aims to pay investors a target annual return of 4%, with the first interest payment payable in autumn 2024. The minimum investment is £100 and the maximum is £100,000. Share interest will be tax free for some shareholders under the Personal Savings Allowance scheme and shares can be passed on free of Inheritance Tax.
Jon Hallé added: “Setting up the Big Solar Co-op to work on a national scale is creating new opportunities for organisations wanting solar roofs, for investors and for volunteers. By pooling our resources and taking a portfolio approach to developments, we are spreading risk and making solar rooftops viable even in the absence of government subsidy.
“Our initial target is 100 MW by 2030 – equivalent to the energy used by about 30,000 homes – but the potential impact is much greater. Huge thanks to our supporters who share our vision and have already invested – we hope many more will join them and us on this exciting journey.”
The share offer opened to pre-registered investors on 24 June and has already attracted over £250,000 in investment. It will close in three months or as soon as the full target is reached.
The Big Solar Co-op is completely owned by members of the public, who either volunteer their time, invest, or both. Investor members will control 25% of votes in the Big Solar Co-op, with the remaining 75% controlled by volunteer worker members.
To find out more and download a Share Offer Document please visit https://bigsolar.coop/invest