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
over 3 years ago
Mark
over 3 years ago
Sam
over 3 years ago
Timothy
over 3 years ago
Adeleke
over 3 years ago
Elias
over 3 years ago
Gillian Rhoda
over 3 years ago
Emily
over 3 years ago
Joanna
over 3 years ago
George
over 3 years ago
Renata
over 3 years ago
isabella louise
over 3 years ago
Glyn
over 3 years ago
Philip
over 3 years ago
Timothy
over 3 years ago
Anja
over 3 years ago
Anna
over 3 years ago
Louisa
over 3 years ago
Richard
over 3 years ago
Kelly
over 3 years ago
Mark
over 3 years ago
Stephanie
over 3 years ago
Simon Bruce Oliver
over 3 years ago
Jan
over 3 years ago
Amanda
over 3 years ago
Stan
over 3 years ago
Joe
over 3 years ago
Edward
over 3 years ago
Anne Charmian
over 3 years ago
Philip Duncan
over 3 years ago
Nicky
over 3 years ago
Nicola Joy
over 3 years ago
Katie Diana
over 3 years ago
sam
over 3 years ago
David
over 3 years ago
Rebecca
over 3 years ago
Paul David
over 3 years ago
mark
over 3 years ago
Daniel
over 3 years ago
Agnes Elizabeth
over 3 years ago
David
over 3 years ago
David
over 3 years ago
Melissa
over 3 years ago
Ceri
over 3 years ago
Robert Layard
over 3 years ago
Laurence
over 3 years ago
Suzanne
over 3 years ago
Andrew
over 3 years ago
Jessica
over 3 years ago
Gail
over 3 years ago
Syed
over 3 years ago
Alistair
over 3 years ago
Sophie
over 3 years ago
Anthony Francis
over 3 years ago
Ruth
over 3 years ago
Patrick
over 3 years ago
Stephen
over 3 years ago
Tor
over 3 years ago
Geraldine
over 3 years ago
Robin Jones
over 3 years ago
Russell
over 3 years ago
Ian
over 3 years ago
Richard
over 3 years ago
Howard A
over 3 years ago
christopher
over 3 years ago
r
over 3 years ago
Guy
over 3 years ago
Tony
over 3 years ago
Elizabeth
over 3 years ago
Michael
over 3 years ago
antony robert
over 3 years ago
Helen
over 3 years ago
Olivier
over 3 years ago
Peter
over 3 years ago
michele
over 3 years ago
claire
over 3 years ago
Lucia
over 3 years ago
Millie
over 3 years ago
Andre
over 3 years ago
James Bedford
over 3 years ago
Samuel
over 3 years ago
Susan
over 3 years ago
Philip
over 3 years ago
Leila
over 3 years ago
Afsheen
over 3 years ago

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.

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