Helping schools generate renewable energy
This was the first solar schools project on Abundance and it funded the purchase and installation of rooftop solar panels for two schools in England, at no cost to them, with the operations and maintenance covered by Brighter Schools. In return, Brighter Schools received the Feed-in Tariff for the electricity generated.
The schools could use the solar electricity generated at an agreed price which let the schools save money on their bills as the agreed price was set below that which they were paying before the solar was installed.
The company originally planned to install solar panels on more schools, but due to the changing subsidy environment at the time it was only able to install systems on two schools and returned some of the money raised to investors in 2014. In 2018 the two installed solar PV systems were purchased by a larger solar schools organisation and this investment was repaid in full. The systems are still installed and generating clean electricity for the schools.
Key terms
Documents
Payment schedule
This table gives a breakdown of what has been paid back to date on this investment, based on an example investment of £1,000. The return on this investment is linked to the performance of the project during each return period.
| Payment date | Capital repayment | Dividend | Total |
|---|---|---|---|
| 25 March 2014 | £561.29 | £0.00 | £561.29 |
| 22 September 2014 | £11.25 | £19.69 | £30.94 |
| 25 March 2015 | £11.25 | £5.11 | £16.36 |
| 22 September 2015 | £11.25 | £11.28 | £22.53 |
| 24 March 2016 | £11.25 | £2.14 | £13.39 |
| 22 September 2016 | £11.25 | £9.13 | £20.38 |
| 24 March 2017 | £11.25 | £5.71 | £16.96 |
| 22 September 2017 | £11.25 | £13.62 | £24.87 |
| 22 March 2018 | £359.96 | £0.00 | £359.96 |
| Total | £1,000.00 | £66.68 | £1,066.68 |