Shared ownership is key to achieving renewable energy aims

Westmill Energy has responded to a consultation on community benefits and shared ownership being run by the government Department of Energy Security and Net Zero.

The consultation explores the potential for mandatory community benefits in low carbon energy infrastructure, and shared ownership schemes.

Read our response.

What is a shared ownership scheme?

In shared ownership schemes, local people hold a financial stake in a renewable energy project, alongside the developer. This means that the local community have a direct investment in the scheme and a share of its benefits.

Shared ownership helps to keep wealth within the local economy and can inspire public support for green energy initiatives. In many countries in Europe shared ownership is mandatory already.

What is community benefit?

These are benefits from green energy schemes which are shared with the community around the project. This may be in the form of grant payments to local organisations or investing in initiatives which benefit the local community.

Greater shared ownership of renewable energy schemes leads to wider community benefit, and therefore we believe that the government’s focus must be on increasing the amount of large-scale shared ownership schemes, in order to provide benefit to the communities in which they are located. This, in turn, will help to drive forward growth in the sector as more schemes are developed, as well as showcasing the benefits of renewable energy to the public.

Westmill

With a combined membership of over 3,000, 40% of whom live within 25 kilometres of the wind and solar farms, Westmill Wind and Solar Co-operatives are a great example of how co-operative renewable energy schemes can benefit the local community. Over £2m of investment returns have been provided back to the 40% of members living locally, and £1m has been invested within the community to date, with a wide range of organisations working to alleviate fuel poverty, improve energy efficiency and support sustainability benefitting from the co-operatives.

The site is recognised as an example of true community energy in action, which demonstrates the possibilities for development in the sector.

Only a substantial increase in community-owned or shared ownership renewable energy schemes will provide the opportunities that the government needs to support its plan to reach 8GW of community energy by 2030, under the Local Power Plan. By inviting communities to invest in renewable energy in their own neighbourhoods, the government can realise its ambitions to boost the local and national economy, whilst also growing the co-operative and mutuals sector and helping communities to become more resilient in the face of energy insecurity.

See our full submission.