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 as well as 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.

 

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

  • 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.

  • Over the project's 20-year lifetime, 679 tonnes of CO2 will be prevented from entering the atmosphere.

  • Since it went live, Banister House Solar has generated 92,385 kWh of clean renewable electricity (November 2016). This is roughly equivelant to the electricty usage of 38 average Banister flats for a full year 1.

  • This means that Banister House Solar has saved around 42 tonnes of C0from entering the atmosphere since its launch. 2

1https://www.ukpower.co.uk/home_energy/average-energy-bill 
2http://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
almost 2 years ago
Mark Handley
almost 2 years ago
Sam Golmohammadi
almost 2 years ago
Timothy Lee
almost 2 years ago
Adeleke Eniola
almost 2 years ago
Elias Hamaz
almost 2 years ago
Gillian Symons
almost 2 years ago
Emily Reynolds
almost 2 years ago
Joanna Wilson
almost 2 years ago
George Scott
almost 2 years ago
Renata Albuquerque
almost 2 years ago
Isabella Forshall
almost 2 years ago
Glyn Thomas
almost 2 years ago
Philip Tromans
almost 2 years ago
Timothy Greene
about 2 years ago
Anja Beinroth
about 2 years ago
Anna Harding
about 2 years ago
Louisa Ziane
about 2 years ago
Richard Ambler
about 2 years ago
Kelly Smith
about 2 years ago
Mark Douglas
about 2 years ago
Stephanie Irvine
about 2 years ago
Simon Worth
about 2 years ago
Jan Kuiper
about 2 years ago
Amanda Hetherton
about 2 years ago
Stan Patrzalek
about 2 years ago
Joe Ryle
about 2 years ago
Edward Allen
about 2 years ago
Anne Kenner
about 2 years ago
Philip Mason
about 2 years ago
Nicky Freeling
about 2 years ago
Nicola Lorena
about 2 years ago
Katie Willis
about 2 years ago
Sam Silverlock
about 2 years ago
David Rinaldi
about 2 years ago
Rebecca Wilson
about 2 years ago
Paul Lukes
about 2 years ago
Mark Gill
about 2 years ago
Daniel Demmel
about 2 years ago
Agnes Barnes
about 2 years ago
David Crisp
about 2 years ago
David Fuller
about 2 years ago
Melissa Harflett
about 2 years ago
Ceri Macdonald
about 2 years ago
Robert Whytehead
about 2 years ago
Laurence Fryer
about 2 years ago
Suzanne Brayley
about 2 years ago
Andrew Tobert
about 2 years ago
Jessica Matthew
about 2 years ago
Gail Warden
about 2 years ago
Syed Ahmed
about 2 years ago
Alistair Wallace
about 2 years ago
Sophie Barnes
about 2 years ago
Anthony Emerson
about 2 years ago
Ruth Smyth
about 2 years ago
Patrick Duval
about 2 years ago
Stephen Reid
about 2 years ago
Tor Kristoffersen
about 2 years ago
Geraldine Gilbert
about 2 years ago
Robin Duval
about 2 years ago
Russell Miller
about 2 years ago
Ian Tollett
about 2 years ago
Richard Ollerenshaw
about 2 years ago
Howard Mitchell
about 2 years ago
Christopher James
about 2 years ago
R Wilfred
about 2 years ago
Guy Roberts
about 2 years ago
Tony Gillett
about 2 years ago
Elizabeth Henton
about 2 years ago
Michael Davies
about 2 years ago
Antony Thompson
about 2 years ago
Helen Nickols
about 2 years ago
Olivier Bertin
about 2 years ago
Peter Emery
about 2 years ago
Michele Sisto
about 2 years ago
Claire Butler
about 2 years ago
Lucia Scazzocchio
about 2 years ago
Millie Darling
about 2 years ago
Andre Pinho
about 2 years ago
James Diamond
about 2 years ago
Samuel Daws
about 2 years ago
Susan Davies
about 2 years ago
Philip Pearson
about 2 years ago
Leila Fortunato
about 2 years ago
Afsheen Rashid
about 2 years 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