A ground-breaking new scheme to help even more Scunthorpe schools go green is moving to its next stage – a community share offer.
Local residents – those with a North Lincolnshire postcode – are being given a limited pre-sale opportunity to invest in the crowdfunding-style scheme from as little as £50, with projected interest rates of 4.5 per cent.
Cllr Rob Waltham, leader, North Lincolnshire Council, said: “This is an incredible scheme that will enable schools to future-proof their energy needs – it will bring down bills at a critical time and keep them down for years to come.
“We are working in partnership with renewable energy company Energy4All to deliver this scheme through North Lincolnshire Community Energy. This is a positive way people can invest in the green economy, earn a good return and help schools across the town.”
£1.4m of Government Towns Fund cash has been used to fit schools with solar panels free of charge – reducing carbon emissions and dramatically slashing energy costs.
To raise another £600,000 for more schools and community buildings the council has set up a community benefit society called North Lincolnshire Community Energy.
It will run the community share offer, which will launch in a few weeks.
Schools get the solar panels for free and pay the society for the energy they use at heavily reduced rates.
Any profits generated by the society will be ploughed back into other green initiatives in North Lincolnshire.
Cllr David Rose, cabinet member for the environment, added: “This is an opportunity for the community to get involved in practical action to mitigate again climate change.
“This aligns with our ambitious A Green Future plans which are designed to not only reduce our impact on the environment but also help other organisations too.”
Schools which have already benefited from the phase one of the scheme include Frederick Gough, Bottesford Junior School, Holme Valley Primary, Berkeley Primary School, Priory Lane Primary and St Hugh’s.
Between them they are expected to save around £100,000 in energy costs a year.
To register your interest in the share offer go to the get involved page on the NLCE website.