Chase Community Solar - NOW FULLY SUBSCRIBED

Renewable energy generation

The overall number of solar installations will be dependent on the total capital raised from the share offer. The minimum target is 150 systems with an average capacity of 3kW. If sufficient funds are raised to install larger numbers, then homes with smaller roof sizes will also be included.

The expected yield from each 3kW array in Cannock is 2,640 kWh per year. The average electricity consumption for a domestic house in the UK is about 3,300 kWh, so each installation will on average produce the equivalent of about 80% of the electricity consumed in the building.

It is estimated that if 150 installations of 3kW are carried out, this will displace the equivalent of 176 tonnes of CO2 every year. If 300 installations are carried out (70% at 3kW, 30% at 2.5kW), this will displace 335 tonnes of CO2 every year.

The Community

The main benefits to the community are the free electricity received by council tenants (when the sun is shining), the creation of a community fund, and the environmental benefits of carbon reduction.

Each of the households that has panels installed will benefit from reduced electricity bills. This will form a real and direct financial boost into the heart of this local community and will benefit a large number of people.

The Project will help at least 150 and as many as 300 social housing tenant households in Cannock Chase District, many of whom are older people living on low incomes. The estimated saving to Council tenants who have the solar PV installed is expected to be in the range £100-£200 per annum, depending on their consumption of electricity during the periods when the panels are generating electricity.

Part of the surplus from the generated energy will be set aside to form a community fund. The level of this will depend on the scale of installation achieved. Indications suggest that if the minimum target of 150 roofs is achieved, the community fund will be minimal, but if 300 roofs are achieved, the community fund will be in the region of £4,000 per year, rising with inflation through the life of the project. It would be at the discretion of the board and members of the Society to decide how this was to be disbursed.