The project will be installing a 120kW solar PV array on the Banister House roofs later this year. This system will save an estimated forty-one tonnes of carbon dioxide per year compared with grid electricity.
Hackney Energy are working with fifteen young people from the Banister House Estate who are taking part in a work experience programme to learn about the co-operative business model, and are getting practical work experience fitting energy efficiency measures. They will also be joining the solar installers to install the panels.
The share offer will launch in early 2015. Banister House residents will be able to buy shares for a minimum of £50. People living outside of Banister House will be able to buy shares for a minimum of £250. Shareholders will make up the membership of the co-operative and have a say in how the co-operative is run. Shareholders will receive interest payments on their investment, at approximately 4% per year.
“I think this is a good project and a chance for people at Banister House to have a better life. This project is giving kids from here the perfect opportunity to stay off the streets.”
— Lanre Alafe, 15, Banister House resident and project intern
Could London run on more sun?, Hackney Citizen, 10/09/14
Sunny delight as Hackney’s first ever solar energy cooperative prepares for lift off, Hackney Citizen, 06/05/14
Green energy cooperative launched by Hackney Energy, East London Lines, 22/01/14
Energy scheme to slash London borough’s carbon footprint, Inside Housing, 16/01/14
Eco-energy co-op launches in Hackney to overcome fuel poverty and youth unemployment, Hackney Gazette, 15/01/14