The public demand for community funded renewable energy appears to be without limits with projects proving to be very popular, they are selling out within minutes of being offered to investors.
One of the latest initiatives is a massive solar panel system on top of a wholesale bakery in western Sydney with investors going in to invest. Within 6 hours, 20 investors have pitched in almost $400,000 to install a huge 230-kilowatt solar system on a local bakery’s roof. The solar project has been set up by volunteer-run ClearSky Investments.
The company, Bakers Maison will pay investors for the solar energy it uses within 7-10 years, the investors, in turn, will get a 7% ROI they put in. And after the time period, the business will own the panels and will use the energy for free. The bakery already had a 100-kilowatt solar power system which will be enhanced by the new and larger community project.