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