Economy
Why I invested in Wedmore
Several private investors explain their motivations for investing in Wedmore Community Power Co-operative, a vibrant rural community now directly served by its own green power plant.
I want to help with the development of local renewable energy. I want to put my savings to better use than if they were with a high street bank, i.e. funding a community project. I would also like a return on my capital as good as or better than that on offer from current cash ISAs, taking into account that I will have to pay tax on it. Joe Norman
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The opportunity to invest in Wedmore Community Power Co-operative ticked so many boxes for me. To be honest and start with the selfish reasons, the expected return on the investment is very important, particularly now I’m retired. It was very reassuring to hear about it from people I know a bit and trust. The fact that it’s fairly local adds to the appeal.
Renewable energy is a central plank in the building of a sustainable society and there’s no game in town that’s bigger than that – the future depends on it. So it’s both exciting and a privilege to have a stake in the venture. Adrian Tait
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My investment is an investment in the survival of the human race. If we do not stop using ‘dirty’ energy, the Earth will survive but unfortunately most living things that occupy it (including us) will not. Elaine Tucker
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I am a supporter of solar power, and have a 4 kilowatt (kW) domestic installation of my own which provides a very good return on my investment; I do not support large-scale wind farms, which I believe to be very uneconomic, inefficient and a ‘blot on the landscape’; I hope to receive a reasonable return on my capital, which I could not achieve with other investments of a similar magnitude. Barry Underwood
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My main concern is to leave my granddaughter a viable planet, and the Wedmore Co-op ticks all the right sustainable development boxes – renewable, local, community-owned, and non-profit. Roger Martin
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As residents of Blackford, we are keen to support local initiatives to generate clean power, and we also see this as a good investment opportunity at a time when interest rates are so low. Victoria and Justin Ash
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I believe in local community sustainable schemes which not only use natural resources but enhance our own way of life in the process of doing so. Chris Dean
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I have invested with you because it looks likely that the overall rate of return will be considerably higher than I can get at a bank or building society, I am interested in reducing the gases causing climate change and it broadens my investment portfolio. Mrs Stott
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I am certainly hoping that this will prove to be a good investment with a reliable and growing return which beats inflation and the paltry interest rates on offer from banks and building societies at the moment. That said, I am under no illusions that any money invested in this scheme must be money you can afford to lose (I hope that doesn’t happen!).
I think this scheme is an excellent model for something that could be scaled up nationwide: local energy providers coming up with innovative schemes to provide energy for their locality so the community feels ownership and is much less likely to block such schemes with ‘nimby’ arguments. Such schemes would have no problem attracting investment from private depositors fed up with the returns from financial institutions – most savers are not greedy but just want a modest return above inflation. John Everitt
If you’re interested in investing in Wedmore, you can do so through Ethex. The current share offer closes on November 9 2013.
Further reading:
Wedmore: community action, renewable energy and financial returns
‘Positive’ investment worth £1.6bn in the UK
Government needs clear vision for UK community energy, says Green Alliance