Edinburgh Community solar co-operative raises funds for local infrastructure

The Edinburgh Community Solar Co-operative is seeking 1.13 million pounds ($1.5 million) from residents to expand its solar power network across Scotland.

The co-operative plans to install solar panels on ten additional city rooftops, including five schools and the Royal Commonwealth Pool. The project aims to generate clean energy while reducing carbon emissions in the city. Residents can join the co-operative by investing as little as 25 pounds ($34) to receive an estimated 5% annual interest payment.

The project has already saved the local council nearly 850,000 pounds ($1.15 million) in electricity costs. Since its founding in 2015, the network has grown to 30 locations, including seventeen schools and several leisure centers. These installations have prevented more than 2,200 U.S. tons of carbon dioxide emissions. A portion of the profits from these solar projects feeds a community benefit fund.

This fund has already provided more than 100,000 pounds ($135,000) to support local parks, youth projects, and green spaces. Jane Meagher, the Edinburgh Council Leader, supports the expansion of solar installations on council buildings to keep wealth within the city.