Northern Ireland’s first energy co-operative has been established with proposals to start with five 250kw wind turbines in Co Antrim and Co Tyrone.
The scheme is functioning as a co-op with one member one vote, irrespective of the size of the investment, and with decisions being subject to the control of members.
Churches, organisations and individuals are invited to become shareholders in this exciting new project.
Many thanks to Douglas McIldoon for sending us the following report:
The risks of catastrophic climate change caused by mankind’s activities are well-understood – and will affect us all – as individuals, as communities, and as a country. We also face the prospect of dwindling fossil fuel reserves which are already leading to increasing prices, shortages and a lack of energy security. Faced with the enormity of these challenges many people try to recycle more, or to reduce energy usage.
However, few take the step of installing renewable energy devices on their own properties, often because it may be impractical, and is usually costly. This is where community co-operatives come in.
Large renewable energy projects (especially wind turbines) tend to be many times more efficient than small ones. By acting together, through a co-op, an individual can invest as much or as little as he or she wishes, and to much greater effect.
In this way, the growth of efficient renewable energy generation is encouraged and a focus for local environmental activity is created. The individual gets what is typically a good return from an ethical investment while also contributing to the well-being of the local economy and community.
A new initiative just announced gives ordinary households and every church congregation the chance to do something really practical – and easy – about climate change.
The electricity they produce will be sold and the co-op will also earn a premium as the electricity produced will be “green”. Every kilowatt hour produced would mean one unit less of “brown” electricity and half a kilogram less of carbon dioxide going into the atmosphere.
This method has been well tested in Great Britain. Click on www.Drumlin.coop to find out about Northern Ireland’s energy co-op and register your interest to be kept informed. An FSA accredited share offer document will be issued shortly which will provide you with the financial details. You can also follow the links to the GB energy co-ops through Energy4all.
The co-op will function on the basis of one vote per member irrespective of the size of the shareholding. You and your church can invest from £250 up to £2O,000. In addition to receiving an annual share interest payment based on the profits, taxpayers in the UK can offset their investment against their income tax under the Enterprise Investment Scheme either through a change in the tax code notified to their employer if they are on PAYE or through self-assessment.
It would be great to see churches as well as parishioners becoming individual investors in the energy co-op. Just as the Fairtrade movement grew from lots of small-scale initiatives this too could, over time, add up to making a big difference to the way we do things and the way we express our care for our world.