Thousands of older Scots invest in community-based renewable energy schemes
THOUSANDS of older Scots are investing in communitybased renewable energy schemes.
This is sparking hopes for major growth north of the Border.
Figures show there are now 13,250 small-scale investors in hydro-electricity sites being built across Scotland. The projects offer annual returns of about 4 per cent over 20 years – more than double the interest in most high street bank accounts. It comes as tens of millions of pounds are being paid out by energy giants to communities from the proceeds of wind farms.
There is also a wider drive towards community-owned renewable projects in a bid to meet new targets. The Scottish Government has an ambition of generating 1 gigawatt of community and locally-owned renewable energy by 2020.