Wolverton Community Energy are based in Milton Keynes. They develop and manage community-owned solar PV and supply greener, cheaper solar energy to local businesses, the majority of which are charities and social enterprises. In addition, they run projects which help to improve energy efficiency within their community. This includes the Home Energy MK programme, supporting homeowners wishing to stop heat loss from their homes and cut energy costs.
Challenge
Energy costs are expensive; at Wolverton Community Energy they are committed to supporting communities to become more energy resilient and implement more sustainable energy methods.
Wolverton Community Energy encourages people to ‘think differently’ about their home. Their long-term vision is for their community to generate and control its own renewable energy.
Solution
Funds from Big Issue Invest paid for the first community owned solar installations in Milton Keynes.
With long leases, these provided a firm foundation for long term revenues from the solar energy sold to partners in the scheme.
Profits are reinvested to support the overall aims of the community benefit society, supporting community renewable energy, improving energy efficiency and cutting carbon emissions.
Revenue
Wolverton Community Energy operate through a number of revenue streams which include selling the energy generated from solar panels, partnerships and offering community investment opportunities.
Impact
Profits each year are invested back into communities around Wolverton and broader Milton Keynes. This is helping to transform the energy efficiency of homes, businesses and the wider community, cutting costs and carbon, improving their resilience and helping to address fuel poverty.
The impact of this means:
• Partners in the local community benefit from affordable and sustainable energy.
• Environmental benefits of reduced carbon emissions.
• Reduced pressure on lower income households who are supported through fuel poverty initiatives.
• Social purpose organisations who benefit from the solar powered energy can forecast longer term energy costs, which in turn frees capacity to work towards their longer-term goals and focus on social impact.
‘Without the first investment from Big Issue Invest, we would be nowhere. Their help since then has been invaluable too.’
Jane Grindey, Director Wolverton Community Energy
‘Big Issue Invest is proud to have been able to play a part in Wolverton Community Energy project to not only enable reductions in utilities costs to its users, but also reduce the environmental impact through its renewable energy scheme but also its wider energy efficiency support within its community.’
Michael Burns, Relationship Manager, Big Issue Invest.