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