The Low Carbon Hub brings benefits to the local community and the environment through the development of community renewable energy and energy efficiency schemes.
The Low Carbon Hub's Community Energy Fund will raise monies to add to its existing portfolio. The Hub currently owns 3.280MW of installed capacity, comprised of 440kW of hydro power at Sandford and 3.720MW of solar on 36 host organisations throughout Oxfordshire.
These installations can generate 4.3 GWh of renewables electricity per annum, enough to power 1,394 houses and save 1,290 tonnes of CO2 each year.
The Low Carbon Hub Community Energy Fund aims to raise £4m of equity over the next three years to pursue a range of opportunities that will enable it to strengthen and grow its portfolio of community energy projects.
The Fund differs from previous Low Carbon Hub share offers in that it offers investors a more flexible way to invest. The Fund will:
A key area of social impact delivered by Low Carbon Hub is the revenues that go into community benefit, it is forecast that across the lifetime of the current project portfolio £2.5m will go into this Fund.
One way that monies are spent for the community benefit is the giving of grants to support the work of Low Carbon Community Groups across Oxfordshire.
For example, £9,492 was given to Power Down East Oxford for a thermal imaging project to reduce the carbon emissions of households in East Oxford, by raising awareness of energy-efficiency measures, educating people about how to reduce their energy use and encouraging the installation of energy-saving measures.
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