Ray of light for homes in fuel poverty
A solar scheme in South Wales is helping more than 100 homes to escape fuel poverty following the success of a community share issue.
The Newport community will collectively see an estimated £17,000 shaved-off its annual fuel bill after the share issue, launched with support from The Co-operative Enterprise Hub, generated £450,000 to install solar panels on 110 rooftops.
Generation (Gen) Community, a newly formed community benefit society, developed the initiative to tackle fuel poverty through community-owned renewable energy and, also teamed-up with CAF Venturesome - the social investment arm of the Charities Aid Foundation and, National Energy Action - the UK national fuel poverty charity.
Since the start of the year twenty installations have taken place and, Gen Community are still happy to hear from qualifying home-owners in the area.
James Alexander, Chairman of Gen Community Ltd, said: "Harnessing natural resources can provide a social investment opportunity with ethical benefits. Our scheme will have a positive impact on both individuals and the environment while paying a sustainable return to investors."
Michael Fairclough, The Co-operative's Head of Community and Co-operative Investment, said: "There is significant potential for community-owned renewable energy to deliver both economic and social benefits.
"Our campaigning for a clean energy revolution across the UK is seeing more people come forward to own, control, and benefit from renewable technologies which will not only contribute to a step-change in people's thinking about energy but will also help to meet the nation's future energy needs and climate change goals."
There has been a near ten per cent increase in UK co-operative enterprises over the last two years, rising from 5,450 (in 2010) to approaching 6,000.
The Co-operative Group - the UK's largest member-owned organisation with interests in Food, Financial Services, Pharmacy, Funeralcare, Legal and Online Electrical - has committed a further £1million this year to developing its Co-operative Enterprise Hub service to provide the tools needed for community-owned enterprises across the UK to get off the ground or grow.
More than 100 homes have been identified for solar panel installation however, households in the Newport area who believe they are in fuel poverty, are owner-occupied and, have a south-facing roof can still be added to the stand-by list by contacting Gen Community on 01792 349365.
For more information about Generation (Gen) Community visit gen-community.co.uk.
The Co-operative Enterprise Hub has supported the creation and growth of 1,000 member-owned enterprises since 2009. Other community groups interested in co-operative solutions to the running of businesses and services can find out more by visiting co-operative.coop/enterprisehub.