How to find help for your scheme
YOU can get free advice and support for setting up a project from Community Energy England, Community Energy Scotland or Community Energy Wales.
Not-for-profit organisation Our Community Enterprise can also provide information, and existing groups may be willing to share their experiences and expertise.
Forming a co-operative can be a good structure in which to raise funds and issue shares. Details of how it works can be found on the Co-operatives UK website uk.coop.
Investors should be aware that community shares purchased in these schemes are not covered by the Financial Services Compensation Scheme – so they have no protection if something goes wrong and they end up losing their money. Energy generation is not eligible for tax relief. However, community businesses – such as those set up to install charging points – may be if they are set up as an Enterprise Investment Scheme. This gives income tax relief to investors of up to 30 per cent.
The Plunkett Foundation charity also provides advice and support for those setting up a community business.