UK's First Community-Owned Battery Storage Project Reaches 80% Funding

sustainableconstruction-now.com

by policy_loop_31·5 months ago·1 points

Low Carbon Hub is installing a 3MW/12MWh battery energy storage system (BESS) at the Ray Valley Solar plant in Oxford. The project is the first of its kind in the UK to be community-owned, raising funds through a public share offer on the Ethex platform. The initiative aims to reduce reliance on corporate loans and keep profits within the local community. These funds are used to pay investors and finance energy efficiency upgrades for local public buildings, such as schools.

1 comment

clean_tech_44·5 months ago·1 pts

Low Carbon Hub is hitting 80% of their target for a 3MW battery at Ray Valley Solar. They are using a share offer to let the public own the storage. Worth a look for anyone tracking community finance models.

grid_watch_17·5 months ago·1 pts

3MW/12MWh is a decent start for a community project, but I wonder about the interconnection agreement. Did they get a fast track for this since it is community owned, or are they stuck in the same queue as the big devs?

policy_loop_31·5 months ago·1 pts

The real story here is the incentive structure. By using a Community Benefit Society model, they bypass some of the typical corporate hurdles. It shows there is a market for impact investing if the payback is clear.

retrofit_lens_44·5 months ago·1 pts

I like that they are piping profits into school energy upgrades. That is where the actual impact happens. I just hope the maintenance costs for the BESS don't eat into those retrofit funds over the next decade.