AN ENERGY co-operative is launching a bid to raise million to fund community renewable energy projects.

The Brighton and Hove Energy Saving Co-operative is an initiative asking people to invest their money to help set up new renewable energy sources in the city.

The project uses the same community shares method used by The Bevy pub in Moulsecoomb and organisers says if successful it would “be the largest community investment in the city’s history”.

Kayla Ente, founder and director of BHESCO, said: “This is a really exciting opportunity for Brighton and Hove.

“Not only will city residents be able to make money while doing good, they’ll be part of a community that acts to lower energy prices and lower their carbon footprint. In order to have the biggest impact, we need mass uptake from individuals and businesses across the city. The great thing is anyone can get involved.”

The first installations include a biomass boiler for Montessori Place School in Cromwell Road, Hove, and a total retrofit of energy saving technology, including a solar array, for Hove based social enterprise The Werks.

Ms Ente said: “This is a win-win-win – the city gets more renewable energy and properties are made more efficient, cutting our carbon footprint and energy bills.

“Businesses and organisations we work with get cheaper energy, and the people whose money makes it happen receive an interest rate that’s ten times better than what they’re getting on their bank savings.”

People can expect a 5% return on their investment – which is a minimum of £250 and a maximum of £100,000.

Caroline Lucas, prospective candidate for the Green Party running for Brighton Pavilion said: “We know governments can and should do more, but people tired of waiting for an energy revolution can take matters into their own hands by investing in BHESCO.

“I think this is an incredibly powerful way, and I hope that in years to come, when we look over a city generating a large part of its energy renewably, we can say it started with people taking matters in to their own hands in a positive way.”

To apply, visit www.ethex.org.uk

CASE STUDIES

TWO community energy projects have already been undertaken by The Brighton and Hove Energy Saving Co-operative.

Brighton-based social enterprise Werkshop will see two of its offices on Church Road and Portland Road retrofitted to make them more energy efficient.

Ian Elwick, director of Werkshop, said: “We’ve long been keen to reduce energy costs but tight margins mean it’s very difficult to improve the buildings we lease. The share offer is a great opportunity to improve our infrastructure and get our energy costs down, as well as benefitting the community in which we operate.”

Montessori Place is a small independent day school in Brighton and Hove, teaching children from 15 months to 12 years, and will see a 32 kilowatt biomass wood pellet boiler installed to heat the building.

It is estimated the system will save the school 18 tonnes of CO2 per year and will reduce their energy bills by £50,000 over the boiler’s 20-year-life.

Rob Gueterbock, director at Montessori Place, said: “We feel it’s of vital importance to embed knowledge on clean, locally harvested renewable energy sources to the children, showing them the alternatives to fossil fuels and to demonstrating their effectiveness.

“Implementing a renewable energy system in our building would be an excellent way to do this. Ultimately we want the children to grow up with the knowledge and confidence to make informed decisions, without compromising the future of the planet.”