Community-funded solar panels
Want solar power for your business, paid for by the community?
Council may collaborate with organisations in the future to deliver community-funded renewable energy projects in the City.
We are taking Expressions of Interests from organisations based in Lake Macquarie City, interested in receiving solar panels.
Through this innovative initiative, your business could receive solar panels to power your premises, and the local community will finance it through the solar cooperative, Pingala.
Community members who invest in solar panels for your business will become members of the cooperative and receive an annual return on their investment from Pingala.
Why you should say “Yes please!”:
Receive solar panels for your business, paid for by the local community;
Reduce your operating costs with lower power bills;
Reduce your carbon emissions and impact on the environment;
Engage your local community in an innovative and positive way.
How the partnership works for your business
Council, Pingala and a local solar company of your choosing, will assess your needs and work out the optimal amount of solar for your operations.
Once you agree to be part of the initiative you and Pingala, with help from Council, will seek community investors.
When enough residents invest in your project, you will be provided with the solar panel system and start receiving green energy to power your operations.
How the investment opportunity works for the community
Lake Mac residents will be invited to invest in your solar project by buying shares in the Pingala Cooperative.
Packets of $250 shares are available, with a limit of four share packets per person (up to $1000).
Pingala will take Expressions of Interest to invest and then initiate an online raffle.
This way, hundreds of residents can be a part of this project and gain financial benefits.
Community members who invest in the project will become shareholders in the Pingala Cooperative, really putting the power back into the hands of community and ensuring that benefits to transitioning to renewable energy stays in the local community.
The Pingala Cooperative seeks to deliver dividend payments to its shareholders of between 5-8% per annum.
Requirements to participate
Based in Lake Macquarie City
Intensive daytime electricity usage
Large, unshaded and structurally-sound roof
Email Council@lakemac.nsw.gov.au or call 02 4921 0333
Express your interest