This project has been fully funded and is now generating clean energy!
3.0%
Estimated return
each year
50%
Tax relief
via SEIS
20%
social return to
a Community Fund

About this project

Styles Gardens before the panels were installed Our second project, Brixton Energy Solar 2, saw the installation of 45kW of solar electric (photovoltaic) panels on the roofs of Styles Gardens, five of the housing blocks in the Loughborough Estate, Brixton.
The combined array will save approximately 16 tonnes of CO2 every year by displacing electricity generated by coal and gas power stations. Funding was raised through a community share offer, with an expected average annual return on investment of 3% and up to 50% tax relief under the Government’s Seed Enterprise Investment Scheme.

The Estate is owned by Lambeth Council and managed by the Loughborough Estate Management Board (LEMB). We secured approval from Lambeth Council to install solar panels on the roofs following multiple consultation events with the residents of the estate in June and July 2012. We intend for some of the electricity generated from the solar panels to be used by LEMB directly to power the communal spaces in Styles Gardens. The remainder of electricity generated by the project will be exported to the National Grid.

The electricity exported to the Grid will be used immediately by any household or business that has a need for electricity at the time the electricity is available. For instance, at the height of summer when the panels are producing their maximum output, the project will be producing the equivalent of enough locally-generated solar power for over 70 households on the estate. Unfortunately, it is not possible to provide a direct supply of electricity from the project to the flats in Styles Garden because they are metered individually. However, we intend that these households should be the first beneficiaries of the social fund generated by income from the project, with initial emphasis on draught-busting, other energy efficiency improvements and education initiatives.

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 co-operative 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 Industrial and Provident 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 co-operative’s board of directors (on 180 days' notice and only after the first three years of the project). The co-operative 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