Mike is backing Brighton Energy Co-operative to set up Brighton & Hove’s first ever community-owned solar energy investment scheme.
Last week, the Co-operative put forward a share offer to raise £200,000 for investment in renewable energy. By the end of the evening, the Co-op had raised £27,000 towards its target. The money that is raised will be used to fund the purchase and installation of solar arrays on roofs owned by Shoreham Port, St Georges Church in Brighton and City Coast Church in Portslade.
The combined arrays, equivalent to the size of a football pitch, will generate 120kW over their 25-year lifetime — enough to power 40 homes and save 1,085 tonnes of carbon dioxide. Brighton Energy Co-operative will receive an income from the electricity that is generated from the feed-in-tariff, a Government-backed subsidy that is guaranteed for 25 years. This will be used to pay annual interest to investors and fund community projects, such as insulating homes to make them more energy efficient. For more information on the project, click here.
Commenting, Mike said: “I am big fan of community initiatives and the Brighton Energy Co-op is a brilliant idea. The aim of encouraging people within a community to invest in their future is admirable and has my complete support. I hope that residents from across the city will look into this project and that it will in time inspire similar concepts.