Who we are Formed from the Stroud based Five Valleys Energy (FiVE) - - PowerPoint PPT Presentation

Who we are

• Formed from the Stroud based Five Valleys Energy

(FiVE) Co-operative registered under the Industrial and Provident Societies Acts in 2010

• Completed install of our first project at Gloucester

Resource Centre in December 2011, with share issue to repay loans completed in April 2012.

• Formally changed our name to GCEC in 2012, then re-

registered, still under IPSA, from a Co-op to a “Bencom” in 2013

Why a Co-operative?

• This model of investment, through purchase of

shares in an Industrial Provident Society, has raised millions of pounds for the development of renewable energy projects, mainly wind and hydro power, throughout the UK.

• Gloucestershire Community Energy is following

the model already demonstrated successfully by a number of other Industrial Provident Societies

Glos Resource Centre

• Cost of system

£85,891.46

• Set-up costs

£19,000

• Share Issue

£105,000

• No. Shareholders

49

• Interest

5.0%

• Total system

44.46 kWp

• Initial FiT Rate

32.9 p/kWh

• Assumed Inflation

3.5%

• Panel Deterioration 25yr 20.0%
• Av generation (kWh/Yr)

39,343

• Av income

£13,900

• Pay 20% of FiT to GRC

£2,780

• Interest Payments

£5,250

• Annual Insurance

£550

• Admin costs

£900

• Inverter Replacement

£8,000.00

• Eventual repayment of investors

Daily average generation

Squirrel Damage

Damage costs Investigation & Repair - £1,514 Loss of Production - £394 Total Claim - £1,910 Total Received - £1,384 Prevention costs Netting install - £4,680 Access Hire - £490 Net Cost to GCEC - £5,696 Additional losses Small loss (winter period) due to panels being re- connected in a different

• rder

How does an Energy Co-op work?

• Industrial and Provident Society for the Benefit of the

Community

• Regulated by Financial Conduct Authority
• Member of Co-operatives UK
• Renewable technologies owned by the community

through purchase of shares by local individuals or

• rganisations
• Technologies located locally, often (though not

necessarily) on community building or land.

• FiT provides income to repay investors with interest &

for further community benefit.

• Tried & tested model for renewable energy generation

Distribution of income

Income from FiTs used:

• to pay interest to members
• to accumulate a fund for future repayment of members’
• utstanding money in full after up to 25 years;
• cost of administering the project;
• to provide additional community benefits
• further energy saving and generating measures.

GCEC Group Status

• Core of 3 board members for several years

recently expanded to 5

• All voluntary, some with full time employment
• Limited capacity and resources led board to

consider joining with other groups

• Looking for ways to improve ROI on current

single investment at GRC

• Potential for further fund raising from existing

and new members

New Opportunities

• Temple Guiting village renewable energy study
• Gloucestershire schools
• GRC Energy Local Club
• Cooperation with other groups
• Cooperation with WPD

Temple Guiting Project Ideas

• Feasibility study funded by the RCEF
• Enthusiastic local residents with several PV

rooftops and electric vehicles

• Issues around identified possible commercial

solar PV installations

• Difficulties to interconnect residents and farm

buildings (lack of 11kV line)

• Potential for future P2P network

Solar Schools Project

• Gloucestershire schools
• Working with Solarsense in Bristol
• Last year of Feed in Tariff deadline March 2019
• Possibly use bond developed by Mongoose

Energy to raise money

• Helps County Council meet carbon reduction

targets

• Educational benefits for school children

Energy Local Club

• Club for residents sharing network with GRC means

physical link “easier” than P2P energy trading

• Aim to supply surplus solar PV power from GRC
• Needs 20-30 households to demonstrate concept
• Sell at 10p/kWh instead of export to grid at 5-6p/kWh
• Residents should save ₤80-100/year per home
• Working with Coop Energy to enable scheme and

provide Time of Use Tariff

• Initial meetings with local councillors very positive
• Next stage to recruit Energy Local member/directors

What we are looking for

New members to join GCEC and help in following areas:

• Community Engagement Role
• Project Identification Role
• Project Development Role
• Funding Development Role
• Communications Role
• Legally defined roles

Contact Information

Gloucestershire Community Energy Co-op c/o Gloucestershire Resource Centre City Works Alfred Street Gloucester GL1 4DF Tel: 07886 972 319 Email: alisoncrane57@gmail.com Website: www.gloscommunityenergy.coop Twitter: GlosCommEnergy