Volunteer-driven solar energy company on rooftops receives backing from Resonance
The UK is witnessing a surge in community energy and solar projects, with several initiatives aiming to boost the country's under-developed solar energy market.
In a significant move, Better Society Capital and Thrive Renewables have launched the Community Energy Catalyst joint venture. The goal is to mobilise £40m for community-owned wind and solar projects across the country. This joint venture, the Community Energy Catalyst, aims to support community energy programmes across the UK.
Meanwhile, Big Solar Co-op, a volunteer-led organization with over 650 members, has installed around 1.2MW of solar capacity to date and plans to add over 5 MW this year. The organisation has made around 10 installations in the last two years, with the largest installation being a 593-kilowatt project with more than 1,500 panels on a packing plant.
Big Solar Co-op's activities are part of a wider effort to increase the contribution of solar power in the UK's energy mix. The drive to boost UK's solar energy sector is intensifying, and Big Solar Co-op's efforts are noteworthy in this regard. The organisation's existing installed capacity will generate enough electricity to reduce UK carbon emissions by around 350 tonnes a year.
Big Solar Co-op has received funding to further its projects. UK-based Resonance has provided £800,000 (€937,000) of funding to Big Solar Co-op. This funding will be used to install rooftop solar panels on some 200 schools and 200 healthcare facilities in England.
The National Lottery Community Fund is also investing about £10 million in 30 community groups across ten English regions. Part of this funding will be converted into renewable projects such as installing solar panels on school roofs, leisure facilities, factories, and supermarkets.
Great British Energy, a company established by the UK government for energy transition investments, has announced a plan to provide £200m over coming years. The details of the investment are yet to be disclosed, but the company's first major project will also include further local clean energy projects in England, and community energy schemes elsewhere in the UK.
Elsewhere, the Japanese International Cooperation Agency (JICA) has invested $40m in Aavishkaar Capital's supply chain fund. The investment by JICA in Aavishkaar Capital's supply chain fund is aimed at the impact ecosystem. However, specific details about the Aegon AM climate transition bond fund and the funding amount for the JICA's investment were not provided.
Resonance Community Developers (RCD) has committed around £10m across some 30 community groups across 10 English regions. The funding from RCD will support various community energy projects in England.
These initiatives underscore the growing commitment to renewable energy and community-led projects in the UK. The UK government, private sector, and community groups are working together to support the transition to a greener, cleaner energy future.
