Community ownership maximises the economic benefits of renewable energy schemes and generates funds for community benefit. Communities include those within a certain geographical area and people who share common values. Rumbling Bridge Community Hydro Society will pay a sum of £5,000 to the local community each year (increasing with inflation) and any surplus profits after payment of share interest will be available for additional community benefit.
- A community benefit fund
- Attractive financial return to members
- Extended economic benefits for the local area
- Educational support on environmental issues
- Individual commitment to low carbon initiatives
- Membership of a nationwide network of renewable energy Societies through Energy4All
As the number of dispersed, renewable energy schemes increase it is essential to engage the general public so they feel involved, consulted and supportive of the transition away from centralised fossil fuel and nuclear power stations. One of the most effective methods to engage people with projects is through ownership, where the benefits of development are received by both individuals and communities and are real and tangible.