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What will our next project be?

What will our next project be?. Sheffield Renewables. Tom Harrison –Volunteer Dr Mark Wells – Finance Director. Preferences. We were looking for: Lower risk Simpler scheme Carbon reductions Financial performance Proven record of success Community involvement.

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What will our next project be?

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  1. What will our next project be? Sheffield Renewables Tom Harrison –Volunteer Dr Mark Wells – Finance Director

  2. Preferences • We were looking for: • Lower risk • Simpler scheme • Carbon reductions • Financial performance • Proven record of success • Community involvement

  3. Medium sized Solar PV 25-50kW

  4. What is solar PV? Produces electricity from sunlight hitting a silicon semi-conductor. Luckily for us in Britain PV panels work from both diffuse and direct sunlight

  5. What will the schemes look like? • 30kW scheme • Space needed: Approx 200m2 • Sell cheap electricity to roof owner • Cost: £35,000-£50,000 • Generation: 20,000-25,000kWh/Year • 10-12.5tCO2/year

  6. What will the schemes look like? SPACE – A London artists charity - 30kW Ovesco IPS - 30kW Scheme at Priory School

  7. Potential locations • Already have some potential sites we • are looking at • If you know any organisations who would like to be involved, we are looking for: • Organisation which has a social link • Large South facing roof (>150m2) • No shading • Roof in good condition

  8. ‘Sunny Sheffield’ • Slightly lower solar irradiance • Higher efficiency due to lower temperature

  9. Other IPSs • Other co-operatives have installed similar schemes • These organisations are successfully paying back their investors right now

  10. What support is there for PV? • FiT Generation Tariff: 13p/kWh (FiT - Feed in Tariff) Government support for higher tariff for community schemes Sell electricity: • Exported electricity to supplier • Below market rate electricity to roof owner.

  11. Hasn’t FiT dropped? • Yes: FiT has dropped significantly • ROI’s were much higher than expected (15-20%) • Reduction in cost of PV means FiT level is right for ROI’s of 8-10% Moore’s Law:- Computing power doubles every 2 years, costs half

  12. Benefits of solar PV • We are positive about solar PV because: • Satisfies our core values • Scalable projects with short lead times • Low risk • Strong financial base for Sheffield Renewables • Social benefits – Supporting partners with energy costs • Outreach and educational benefits • Price per kWp, kWh and tCO2 lower than Jordan Dam

  13. Outline Plan • 150-200 kW of solar PV • 3 – 5 installations • Offer to partners: • Cheap electricity • We claim FiT • Profits re-invested in local community

  14. Selection of Partners • Organisations who share our ethos • Community Buildings • Public Buildings • Social Housing • Also consider: • Lifespan of building • Longevity of organisation • Onsite electricity demand • EPC band

  15. Outline Business Case

  16. Outline Business Case • Conclusions: • Offer to shareholders will be similar • 3% interest once operating 2 years • Withdrawals after 3 years • Return to Community Benefit Fund

  17. Risks • Project Completion • Changes to FiT • Problems with partner agreements • Planning issues • Cost increases • Damage to building Project Operations • Mechanical failure • Damage due to weather, vandalism etc • Changes in weather patterns • Changes in electricity prices

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