What will our next project be?
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What will our next project be?
Sheffield Renewables
Tom Harrison –VolunteerDr Mark Wells – Finance Director
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Preferences
We were looking for:
Lower risk
Simpler scheme
Carbon reductions
Financial performance
Proven record of success
Community involvement
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Medium sized Solar PV
25-50kW
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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
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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
10-12.5tCO2/year
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What will the schemes look like?
SPACE – A London artists charity - 30kW
Ovesco IPS - 30kW Scheme at Priory School
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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
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‘Sunny Sheffield’
•Slightly lower solar irradiance•Higher efficiency due to lower temperature
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Second Outline Level Third Outline Level
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Eighth Outline Level
• Ninth Outline LevelClick to edit Master text styles
– Second level
• Third level
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» 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
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Other IPSs• Other co-operatives have installed
similar schemes
• These organisations are successfully paying back their investors right now
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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.
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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
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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 tCO2 lower than Jordan Dam
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Outline Plan
150-200 kW of solar PV
3 – 5 installations
Offer to partners:
Cheap electricity
We claim FiT
Profits re-invested in local community
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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
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Outline Business Case
Parameter Working Assumption
Cost £1400 per kW + project management + contingency
Total Capacity 200 kW
Capacity Factor 9 %
Onsite Electricity Sale A fixed % of market rates
Export to Grid 4.6 p / kWh
FiT 12.5 p/kWh
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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
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RisksProject 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