A GREEN organisation in Oxford is to offer residents shares in a clean energy scheme worth more than £2m.
Low Carbon Hub plans to roll out a scheme across the county, in which solar panels will be installed on the roofs of school and business premises, with the electricity generated sold for a profit.
People will be able to offset their investment against income tax – effectively a 30 per cent discount on the money they put in.
Non-executive director Wendy Twist said that one third of the profits would be pumped into community clean energy projects, with the rest split between investors and the hosts. She said: “You do not have to be a rich person to be part of this. We want Oxfordshire’s green energy assets to be owned by the people of Oxfordshire.
“The share capital will raise money for projects we will have already built over the summer, so people can see what they are investing in. We have taken out a low-cost loan from supportive organisations to fund that, which the money will be used to pay back.”
Investors can expect a five to six per cent return, she said, and shares will be withdrawable.
She added: “We want as many people as possible to take part.
“Whatever the amount of investment you make you are still entitled to the 30 per cent discount.”
More than 20 schools across the county have signed up to the solar scheme.
Mrs Twist said Low Carbon Hub is currently in talks with a number of private firms, with Witney furniture shop Wesley-Barrell one of the first to sign up.
Projects are already under way, including a 140kW set of solar panels on the roof of the Oxford Bus Company’s garage in Watlington Road, Cowley.
The array of 540 panels at its building is the biggest of its kind in Oxford.
Finance director Luke Marion said: “The project has already been a huge success on a number of levels.
“With the longer days and sunnier weather we are now generating between 3,000 and 4,000 kilowatt hours per week.”
Low Carbon Hub has also supported a scheme at St Barnabas Primary School, in Jericho, Oxford, to install a solar panels on school roofs.
Headteacher Fiona Hawkins said: “It was a mutually beneficial offer, they get our roofs and we get a 13 per cent discount on the energy.
“Parents have been great supporters of it and the children like it as well because we can monitor things like how much is used and how much is generated.”
The shares will be issued in the autumn from The Low Carbon Hub Industrial and Provident Society, with surplus profits going to community projects backed by The Low Carbon Hub Community Interest Company.
- For more information, visit lowcarbonhub.org
11:32am Sunday 2nd August 2015
PART of Oxford Castle Quarter is cordoned off after a man was attacked in the early hours of this morning.
11:17am Sunday 2nd August 2015
SUNLIGHT shining through the window of a house sparked a blaze in Sibford Gower.
11:10am Sunday 2nd August 2015
There are delays of up to 30 minutes on CrossCountry between Reading and Birmingham New Street due to a broken down train at Oxford.
8:30am Saturday 1st August 2015
DEVELOPERS wanting to transform Cowley’s Templars Square Shopping Centre said they hope their plans will spur more development in the area.
5:13pm Saturday 1st August 2015
A FLASHER exposed himself to a woman in Bury Knowle Park yesterday.
11:41am Saturday 1st August 2015
Fire crews have put out a house fire in Sibford Gower.
9:00am Saturday 1st August 2015
SAVING a man from a burning house was not the first heroic deed by postman Tony Rendell.
8:00am Saturday 1st August 2015
A WOMAN hit a row of taxis in Abingdon town centre yesterday after a “medical episode”.
7:00am Saturday 1st August 2015
A JUDGE spared a convicted drug dealer more time in jail for giving his friend £100,000 of drugs money to buy a house.
7:00am Saturday 1st August 2015
IT IS the last remnant from the intriguing wartime history of a scrapyard near Bicester.
6:30am Saturday 1st August 2015
THE father of killed Witney schoolgirl Liberty Baker has said more support is needed to stop bereaved families feeling alone and distressed.
6:00am Saturday 1st August 2015
AN EXHIBITION telling the stories of 66 men from one Oxford suburb who gave their lives in the First World War has been so successful it is to go on tour.
8:30am Friday 31st July 2015
BOBBIES will be given more time on the beat and ‘hot spots’ of crime are to be tackled after a landmark policing review.
6:00am Friday 31st July 2015
A FORMER pub in Oxford is set to be transformed into a Caribbean restaurant after sitting empty for nearly six months.