This project has been fully funded and is now generating clean energy!

This share offer has been raised successfully and is now closed.

4.0%
Estimated return
each year
50%
Tax relief
via SEIS
20%
social return to
a Community Fund

About this project

On the 3rd of October 2015 Banister House Solar went live, generating renewable, community-owned electricity for the Banister House Estate and it's residents. 

Hackney Council comissioned Repowering to develop this project in January 2014. 

Banister House Solar is the first community owned solar energy project in Hackney and the UK’s largest community energy project on social housing. Repowering London has worked to develop this project alongside residents of the Banister House Estate and local energy advocacy group, Hackney Energy. 

The project development has been funded and supported by Hackney Council and follows the success of Repowering's award-winning Brixton Energy Solar 1, Solar 2 and Solar 3.

If you would like to read a detailed technical report of the project you can request one by contacting us

 

Key Achievements 

Social

  • The co-operative was established with 4 local directors from Banister House Estate

  • 25 local young people were engaged in the 30 week paid internship programme, with 10 completing it

  • 6 local young people benefitted from paid work experience installing solar panels on their estate 

  • Interns Ziggy and Israel made their video message to David Cameron, challenging the government's cuts to the Feed in Tariff. They were directly referenced by Jeremy Corbyn at the Houses of Parliament during Prime Ministers Questions

  • Banister House quickly became a focus point for the Feed In Tariff reduction debate, being picked up by many news agencies including Reuters

  • You can read Banister House Solar director, Leila's Fortunato's story "What makes it happen", describing her amazing journey from local resident to director 

  • Victoria, one of the Banister House Interns, was awarded the Solar Power Portal award for Intern of the Year. She is now applying for a Masters in Business Studies

 

Environmental

  • In total 102 kWp of solar array has been installed on the estate.

  • 679 tonnes of CO2 will be saved from entering the atmosphere over the lifetime of the project.

  • Since it went live the project has generated 14500 kWh of clean renewable electricity. This is equivelant to powering 6 average Banister flats for a full year  (March 2016)

  • This means that  that Banister House Solar has saved 2.32 tonnes of C0from entering the sky in just 6 short months 2

1https://www.ukpower.co.uk/home_energy/average-energy-
2bill http://www.leics.gov.uk/calculating_our_carbon_footprint.pdf

 

Financial 

  • ​£149,000 of capital funds were raised through a community share offer to fund the project

  • £20,000 will be generated for the Community Fund. The following areas were selected by the community to benefit from the fund:

    • ​​Energy efficiency measures for the Banister House homes

    • Opportunities for young people living in Banister House

    • Community activities on the estate 

  • Hackney Council will benefit from a potential savings of £20,000 in energy costs over the lifetime of the project 

Our investors

Wilhelmina Stewart
about 1 year ago
Mark Handley
about 1 year ago
Sam Golmohammadi
about 1 year ago
Timothy Lee
about 1 year ago
Adeleke Eniola
about 1 year ago
Elias Hamaz
about 1 year ago
Gillian Symons
about 1 year ago
Emily Reynolds
about 1 year ago
Joanna Wilson
about 1 year ago
George Scott
about 1 year ago
Renata Albuquerque
about 1 year ago
Isabella Forshall
about 1 year ago
Glyn Thomas
about 1 year ago
Philip Tromans
about 1 year ago
Timothy Greene
about 1 year ago
Anja Beinroth
about 1 year ago
Anna Harding
about 1 year ago
Louisa Ziane
about 1 year ago
Richard Ambler
about 1 year ago
Kelly Smith
about 1 year ago
Mark Douglas
about 1 year ago
Stephanie Irvine
about 1 year ago
Simon Worth
about 1 year ago
Jan Kuiper
about 1 year ago
Amanda Hetherton
about 1 year ago
Stan Patrzalek
about 1 year ago
Joe Ryle
about 1 year ago
Edward Allen
about 1 year ago
Anne Kenner
about 1 year ago
Philip Mason
about 1 year ago
Nicky Freeling
about 1 year ago
Nicola Lorena
about 1 year ago
Katie Willis
about 1 year ago
Sam Silverlock
about 1 year ago
David Rinaldi
about 1 year ago
Rebecca Wilson
about 1 year ago
Paul Lukes
about 1 year ago
Mark Gill
about 1 year ago
Daniel Demmel
about 1 year ago
Agnes Barnes
about 1 year ago
David Crisp
about 1 year ago
David Fuller
about 1 year ago
Melissa Harflett
about 1 year ago
Ceri Macdonald
about 1 year ago
Robert Whytehead
about 1 year ago
Laurence Fryer
about 1 year ago
Suzanne Brayley
about 1 year ago
Andrew Tobert
about 1 year ago
Jessica Matthew
about 1 year ago
Gail Warden
about 1 year ago
Syed Ahmed
about 1 year ago
Alistair Wallace
about 1 year ago
Sophie Barnes
about 1 year ago
Anthony Emerson
about 1 year ago
Ruth Smyth
about 1 year ago
Patrick Duval
about 1 year ago
Stephen Reid
about 1 year ago
Tor Kristoffersen
about 1 year ago
Geraldine Gilbert
about 1 year ago
Robin Duval
about 1 year ago
Russell Miller
about 1 year ago
Ian Tollett
about 1 year ago
Richard Ollerenshaw
about 1 year ago
Howard Mitchell
about 1 year ago
Christopher James
about 1 year ago
R Wilfred
about 1 year ago
Guy Roberts
about 1 year ago
Tony Gillett
about 1 year ago
Elizabeth Henton
about 1 year ago
Michael Davies
about 1 year ago
Antony Thompson
about 1 year ago
Helen Nickols
about 1 year ago
Olivier Bertin
about 1 year ago
Peter Emery
about 1 year ago
Michele Sisto
about 1 year ago
Claire Butler
about 1 year ago
Lucia Scazzocchio
about 1 year ago
Millie Darling
about 1 year ago
Andre Pinho
about 1 year ago
James Diamond
about 1 year ago
Samuel Daws
about 1 year ago
Susan Davies
about 1 year ago
Philip Pearson
about 1 year ago
Leila Fortunato
about 1 year ago
Afsheen Rashid
over 1 year ago

£149,500

Raised of our £149,500 goal

129 investors

Frequently asked questions

Do I need to live locally to invest?

No. Any UK resident can invest in the project.

What is SEIS?

As a society member you are eligible for tax relief under the Seed Enterprise Investment Scheme. Pursuant to this scheme, qualifying investors can claim tax relief of 50% of their investment. The relief is given by way of a reduction of tax liability, providing there is sufficient tax liability against which to set it.

When is the money taken from my account?

We use a direct debit facility to take the money from your account. This usually takes a few working days to clear.

Is my investment at risk?

The directors consider that this project is lower risk than many long-term investments because it is underpinned by the Feed-in Tariff (FIT), which is a Government-sponsored programme that guarantees payment for the energy generated for 20 years. Nevertheless, there are a number of risks you should consider. Please refer to the “Risk Factors” section of the Share Offer document for more information. In addition, you should seek independent advice if you have additional questions.

What is the mechanism for selling shares? Will the scheme always buy shares back?

Shares in an Community Benefit Society are different than shares you may have in public or other private companies. By law, you are not able to sell or otherwise transfer your investment and the project has been designed to encourage long-term investment. However, a provision for withdrawal of shares is available through application to the society’s board of directors (on 180 days' notice and only after the first three years of the project). The society will set aside a portion of money annually to allow for withdrawal and buyback of shares throughout the life and for payback at the end of the project’s life.

Need help?

If you have any questions about investing or the project please don't hestitate to contact us:

info@repowering.org.uk