Low Carbon Hub, a social enterprise which develops community-owned renewable energy projects in Oxfordshire, is inviting people to invest at Ray Valley solar park in Arncott.
Ray Valley, one of the UK’s largest community-owned solar energy parks, was set up by Low Carbon Hub in 2022.
It can generate enough clean electricity to power around 7,000 homes.
Low Carbon Hub now plans to install battery storage at the park to ensure more clean energy is used and more money is generated for communities.
To fund this, people and organisations can buy community shares in the Community Energy Fund via the direct impact investing platform, Ethex.
Investments in the share offer start at £100, with a maximum investment of £100,000.
This investment will be used to help maximise clean renewable energy produced and install the infrastructure needed to accelerate the transition to a zero carbon energy system.
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Dr Barbara Hammond, chief executive of Low Carbon Hub, said: “We’re planning to install the UK’s first community-owned battery located alongside a community-owned renewable energy project, and people have the opportunity to invest in this exciting next phase of community energy.
“Solar energy used to be heavily dependent on the time the sun was out, but adding battery storage makes the clean power more reliable and consistent day and night.”
Currently, not all of the energy generated at Ray Valley can be used when it’s needed most.
On very sunny days, the park produces more electricity than the local grid can use so some clean energy is lost.
Energy prices are also usually lower during the day, when more solar energy is produced, meaning that power that is generated earns less money than it could.
Installing a battery means more of the clean energy will get used and the park will earn more money.
All profits from Low Carbon Hub’s renewable energy projects are invested into other community sustainability initiatives such helping schools, homes and businesses become more energy efficient and reduce carbon emissions.
The new battery will capture surplus solar electricity that would otherwise be wasted and store it for use later in the day.
Each year, it is expected to save around 809 MWh of clean electricity from being wasted – enough to power around 300 homes annually.
By releasing that stored solar power during peak demand, when the grid is more carbon intensive, the battery will deliver an additional 102 tonnes of carbon savings every year – equivalent to taking around 45 cars off the road.
Ms Hammond added: “Projects like this create energy we can all feel good about.
“This share offer gives people the chance to invest in, and co-own vital clean energy infrastructure which is taking action on climate change.
“Investors get a modest return on their investment and will see profits invested in other low carbon projects in the community.
“It’s a great time to strengthen an existing, proven solar energy system at Ray Valley with additional battery storage, and keep it working hard for our communities.”
The community share offer is open from March 26 to June 26.