In Collaboration with
5.30 PM, THURSDAY, 1 MARCH AT ALLAWAH COMMUNITY CENTRE (Dr Buchanan Drive, Coolamon)
Coolamon Shire Council has contracted with Repower to install 66 kW of solar power at its Health Precinct to achieve power savings and create local economic and environmental outcomes. This follows on from the workshop, titled ‘Public Energy No 1’ held in May 2017.
Using a novel community financing model, the Council will not need to pay for the capital cost of the solar systems but will own them after 10 years. In the 10 year contract period, Council will achieve savings in its power costs which will be even larger thereafter.
Under this model opportunities exist for community investment.
Investment opportunity for local people:
Repower will be offering the opportunity for Coolamon Shire residents to invest in this and two other solar power projects at this public meeting and presentation. A company has been set up by Repower Shoalhaven Incorporated, a community energy association, for the sole purpose of raising capital via shareholders, in order to purchase collectively owned solar power systems, from which any earned profits will be returned to shareholders.
These include keeping money in the local region which would otherwise be paid in power bills to organisations outside the region and overseas. Investment by locals in the local solar systems used by Council, instead of investments outside the community. Also, it is likely to result in work and business opportunities associated with solar installation and maintenance.
Another potential benefit is that this project can be a demonstration of Council's interest in seeing more businesses take up solar to achieve power savings and create the same community benefits.
1. To learn about the details of the investment and, if interested, become an investor.
2. ForBusinesses,theycanconsiderthebenefitsofgoingsolartohelpminimisethecrisisinenergy prices and hear about Repower’s model and options of community financing to outright purchase.