Luke Pollard

Labour & Co-operative MP for Plymouth Sutton and Devonport

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PEC Solar share issue - have you bought your shares yet?

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Plymouth Energy Community are asking local people to invest in solar panels for roofs in Plymouth. This is a great opportunity to buy into a solar success story in Plymouth. I've bought my shares - have you bought yours?

 

I'm a big supporter of Plymouth Energy Community and I should declare up front I'm a member and a shareholder in PEC's renewable energy co-operative. The energy co-operative was created by Plymouth City Council as part of us delivering a manifesto pledge from 2012. The original energy co-operative (which I am proud to be a member of) has now grown and grown and is now delivering a range of services from switching tariffs to installing energy saving insulation. 

Last year PEC launched a spin-off co-operative that asked people to invest in it so it could buy solar panels for the roofs of 21 primary schools. This was a huge success - you can read my take on it here. On the back of this success they have just launched their second share issue - this time to cover the roof of the Life Centre in Central Park in solar panels. 

Plymouth Energy Community

Plymouth has always been a unique and forward thinking city. With the ocean at our doorstep the character and spirit of Plymouth continues to make it a city at the forefront of exploration and innovation.  Plymouth Energy Community continues Plymouth's drive for innovation and finding new ways of solving problems. It is something we should be very proud of as a city - I certainly am.

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The second share issue will buy enough solar panels to create Plymouth's largest solar roof on the Plymouth Life Centre

PEC are a superb example of a co-operative that is bringing national attention and focus to our city. The £950,000 that PEC are aiming to raise from this second share issue will be used to install the largest solar panelled roof in the South West on Plymouth Life Centre. This work is both groundbreaking and integral to building upon the work already done by PEC such as providing free solar panels to 21 Plymouth schools and community buildings.  PEC have also helped local residents to clear £48,000 of energy bill arrears through its fuel debt service scheme. The future of PEC and Plymouth renewable energy is looking bright.

The money raised through this community share scheme is aiming to fund five large solar roofs and continue the work of the Fuel Debt Service. With these initiatives being so important and beneficial for the people of Plymouth I encourage as many people as possible to get involved with PEC.

Plymouth's co-operatives are thriving and as a Labour and Co-operative Party candidate I want to do all I can to encourage their growth.  The Labour-run City Council working in partnership with PEC is proving how co-operation can deliver for people in our city and this share issue means more and more people can buy into this success story. 

Well done to everyone involved in PEC - this really is something our city should be very proud of. 

Shares cost £1 each and whether you buy 50 or 5000 you have the same voting rights. It is really encouraging that PEC have held the buy in level at £50 which makes it one of the most affordable community energy share issues in the country. I've bought my shares and I hope many other people in Plymouth will buy into it. 

Tackling climate change, providing cheaper energy, bolstering our community and ploughing profits back into our city all make for great reasons to invest. I have been a huge supporter of Plymouth Energy Community and its renewable sister co-operative and, if elected in May, would continue to champion their superb work as an MP.

Buy your shares

For details of how to buy into the Plymouth Energy Community second share issue click here (opens in a new window). 

I've bought shares in this but you should take time to read the small print to make sure buying shares is right for you and your personal circumstances. There's details on the PEC website about how to do this and the small print. 

Find out more

To learn more about the work of Plymouth Energy Community please visit their website here.

 

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