What will our next project be? Sheffield Renewables Tom Harrison –Volunteer Dr Mark Wells – Finance Director

Preferences We were looking for:  Lower risk  Simpler scheme  Carbon reductions  Financial performance  Proven record of success  Community involvement

Medium sized Solar PV 25-50kW

What is solar PV? Produces electricity from sunlight hitting a silicon semi-conductor. Luckily for us in Britain PV panels work from both diffuse and direct sunlight

What will the schemes look like? 30kW scheme  Space needed: Approx 200m2  Sell cheap electricity to roof owner  Cost: £35,000-£50,000  Generation: 20,000-25,000kWh/Year  tCO2/year

What will the schemes look like? SPACE – A London artists charity - 30kW Ovesco IPS - 30kW Scheme at Priory School

Potential locations Already have some potential sites we are looking at If you know any organisations who would like to be involved, we are looking for:  Organisation which has a social link  Large South facing roof (>150m2)  No shading  Roof in good condition

Click to edit the outline text format Second Outline Level  Third Outline Level Fourth Outline Level  Fifth Outline Level  Sixth Outline Level  Seventh Outline Level  Eighth Outline Level Ninth Outline LevelClick to edit Master text styles – Second level Third level – Fourth level » Fifth level ‘Sunny Sheffield’ Slightly lower solar irradiance Higher efficiency due to lower temperature

Click to edit the outline text format Second Outline Level  Third Outline Level Fourth Outline Level  Fifth Outline Level  Sixth Outline Level  Seventh Outline Level  Eighth Outline Level Ninth Outline LevelClick to edit Master text styles – Second level Third level – Fourth level » Fifth level Click to edit the outline text format Second Outline Level  Third Outline Level Fourth Outline Level  Fifth Outline Level  Sixth Outline Level  Seventh Outline Level  Eighth Outline Level Ninth Outline LevelClick to edit Master text styles Click to edit the outline text format Second Outline Level  Third Outline Level Fourth Outline Level  Fifth Outline Level  Sixth Outline Level  Seventh Outline Level  Eighth Outline Level Ninth Outline LevelClick to edit Master text styles – Second level Third level – Fourth level » Fifth level Other IPSs Other co-operatives have installed similar schemes These organisations are successfully paying back their investors right now

What support is there for PV?  FiT Generation Tariff: 13p/kWh (FiT - Feed in Tariff) Government support for higher tariff for community schemes Sell electricity:  Exported electricity to supplier  Below market rate electricity to roof owner.

Hasn’t FiT dropped?  Yes: FiT has dropped significantly  ROI’s were much higher than expected (15-20%)  Reduction in cost of PV means FiT level is right for ROI’s of 8-10% Moore’s Law:- Computing power doubles every 2 years, costs half

Benefits of solar PV We are positive about solar PV because:  Satisfies our core values  Scalable projects with short lead times  Low risk  Strong financial base for Sheffield Renewables  Social benefits – Supporting partners with energy costs  Outreach and educational benefits  Price per kWp, kWh and t CO2 lower than Jordan Dam

Outline Plan  kW of solar PV  3 – 5 installations  Offer to partners: Cheap electricity We claim FiT Profits re-invested in local community

Selection of Partners  Organisations who share our ethos  Community Buildings  Public Buildings  Social Housing  Also consider: Lifespan of building Longevity of organisation Onsite electricity demand EPC band

Outline Business Case ParameterWorking Assumption Cost£1400 per kW + project management + contingency Total Capacity200 kW Capacity Factor9 % Onsite Electricity SaleA fixed % of market rates Export to Grid4.6 p / kWh FiT12.5 p/kWh

Outline Business Case Conclusions:  Offer to shareholders will be similar  3% interest once operating 2 years  Withdrawals after 3 years  Return to Community Benefit Fund

Risks Project Completion  Changes to FiT  Problems with partner agreements  Planning issues  Cost increases  Damage to building Project Operations  Mechanical failure  Damage due to weather, vandalism etc  Changes in weather patterns  Changes in electricity prices