Our Aims & Objectives
Our vision is to build a community-owned and financially sustainable enterprise which will make a major contribution to local, renewable energy generation. We believe a community-owned structure is the right model to create local support for renewable energy installations, and that local decentralised supply provides a viable and resilient business model.
We believe that the Government’s introduction of:
- the Feed in Tariffs (FIT) Scheme in April 2010 - offering financial incentives to the generators of electricity from renewable energy installations; and
- the Renewable Heat Incentive (RHI) Scheme in November 2011 - offering financial incentives to the producers of thermal energy e.g. from renewable biomass fuels
- allows community companies such as KCEL to be financially viable and gives local people the opportunity to benefit from the incentives, at the same time helping their community to become more resilient to rising energy costs.
The widespread acceptance, particularly in local and national Government, of the need for a major increase in renewable energy generation means the timing is right for community enterprises like KCEL, which is supported by the rapid increase in the formation of such companies and the special support given to them by the Government.
To achieve our vision, we aim to:
- Develop renewable energy projects in the north and east of Wiltshire and the surrounding areas either through local partnerships or on our own;
- Raise investment via membership share offers and, as appropriate, matching debt finance, institutional investment and/or co-investment;
- Secure income via the Feed in Tariff and Renewable Heat Incentive Schemes and other Government incentives; and
- Re-invest surplus income into other projects that contribute to local energy sustainability and carbon reduction via a local Community Fund.
We aim to develop an extensive portfolio of renewable energy installations using membership investment and, where feasible, debt financing. Over the next few years we aim to install initially solar PV technology but do not rule out deploying other technologies such as biomass heating, anaerobic digesters and small hydro electric schemes. The great advantage to the community is that the energy supplied via these schemes will be largely linked to inflation and not to the much greater expected rise in world energy costs. Projects will not only be located in schools and other community buildings, but also in local businesses and farms .
Importantly as KCEL becomes more established we also want to develop energy efficiency programmes funded where possible through the Community Fund.
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