- Community Energy Cumbria is made up of a Board of Directors with skills and experience including renewable energy, project management, finance, ecology and community development. It is also supported by the skills and expertise of Cumbria Action for Sustainability.
- CEC identifies renewable energy projects that are ready to develop
- CEC produces a share offer document identifying the risks and opportunities of the schemes and detailing the share issue; this is submitted to HMRC for Advanced Assurance for EIS / SITR tax relief schemes
- Individuals invest in Community Energy Cumbria through buying shares (Minimum £250, maximum £50,000) using a simple application form and transferring the sale cost to CEC by BACS or cheque
- When the share application is accepted, the individual receives a share certificate and becomes a bone fide Member of the Society with voting rights; one member one vote
- The money is used to purchase and install the renewable energy system and to manage the project and shares
- Investors receive an annual return on their investment once the projects start earning income from the production and sale of electricity or heat
- Capital as well as interest is paid back to the investors, based on projected energy generation figures (please see Risks)
- Members are invited to CEC events and to the Annual General Meeting
- At the AGM, CEC’s Members are presented with full accounts of all income and expenditure and agree how to distribute any surplus that is generated for local environmental or social projects
- As CEC develops, it aims to be able to provide a mechanism for other communities wishing to generate their own energy
- Community Energy Cumbria also aspires to be able to offer training and participation in community-based sustainable development initiatives through Cumbria Action for Sustainability, where funds allow.
