LCS is a Community Benefit Society, a legal entity whose statutory purpose is to serve the broader interests of the community. This means that any proceeds from the project are locked into the Borough of Lambeth and delivered to local residents.
- Local residents aged 16 or over, businesses, councils and others can invest in the Society by purchasing shares. Shareholders automatically become members. You can invest from as little as £100 (specific concessions £50).
- To ensure no one is left out, Borough of Lambeth residents can become a non-investor member for £1. You’ll have the same say in how the project is run as any investor. Contact our Community Champion Ewure Esi if you’d like to be a non-investor member.
- The Society is run by members and a board of directors who come from the local community. Governance of the Society is truly democratic because each member has one vote, no matter whether or how much they invest.
- The Society uses the funds raised from shares to buy and install the solar panels. The project earns an income by selling the electricity produced through them.
- Shareholders receive an estimated return on their investment of around 3% pa over the lifetime of the project and get their initial stake back.
- After core costs and investor returns have been paid out, any remaining income is spent within the community.