Here are some questions we’re often asked. Please treat our Share Offer Document as your main source of information on which to make a decision to buy shares.
Disclaimer: These FAQs have been prepared for informational purposes only, and are not intended to provide, and should not be relied on for tax or legal advice.
By buying shares you become a member of Big Solar Co-op. You are entitled to a vote and to an annual interest payment. We aim to pay a fair return on funds invested. Our target rate of interest is 2% above Bank of England base rate, or 5% if the base rate drops below 3%.
You can opt to re-invest your interest or to receive it as a payment to your bank account.
Any person over 16 can buy shares. Shares can also be held by a company or other organisation as long as it is an incorporated body. You can’t buy shares for somebody else, though you can leave shares in your will and in principle they do not attract Inheritance Tax.
Members can apply at any point for return of all or part of their share capital and we will look to meet that request either from reserves or by issuing new shares.
This is taxable income. You may find that you do not need to pay any tax if your total interest is under the Personal Savings Allowance threshold (£1,000 for a basic rate taxpayer in 2024).
The Big Solar Co-op is a Co-operative Society registered with the Financial Conduct Authority. You can see our Rules and audited accounts on their website. The Big Solar Co-op was first conceived of by Sharenergy Co-operative, who have an excellent track record in setting up energy co-operatives going back to 2011. Sharenergy helped to set up one of the very first solar co-operatives in the UK (Leominster Community Solar Co-op in 2011) and continues to work closely with us. We are governed by a board elected from our members – have a look at the Board page to meet our committed, experienced (and unpaid) Directors.