Mitchell Community Energy (MCE) is undertaking a survey to gauge the interest of the community in making investments in Community Energy projects.
Please read the information below and email your responses to the survey to Jeff Wilmot, Secretary of MCE. If you would like more information, please contact Jeff. Your response will be treated confidentially.
MCE has made a submission to Mitchell Shire Council to obtain the funds from the community to loan to Council to install 99 kW of solar panels on the roof of the Seymour Sports and Aquatic Centre at a cost of about $120,000. Council has, not unreasonably, come back with: “Council wishes to confirm the likelihood of MCE being able to fund the initial $120,000 and the time frames around this.”
The group aims to involve local people. MCE has been proceeding on the basis that similar projects in other communities are being successfully subscribed within days, or even hours. Jeff Wilmot has spoken to many individuals and groups around Seymour about the concept, and there has been keen interest and support. MCE now needs to put this to the test. So, MCE is writing to people who have shown interest in the concept of community financing of renewable energy and energy conservation in the Mitchell Shire.
The investment will be subject to appropriate financial regulation and oversight. To manage the finances of projects, “Special Purpose Vehicles” will have to be set up. This will probably be in the form of a co-operative, which can have an unlimited number of members and can promote an unlimited number of projects. The investment that can be made by each member in any project can vary from whatever minimum is decided, say $500, to a maximum of 20% of the project value, which in the case of the SSAC would be $24,000.
Although MCE can’t promise high rates of return, they do commit to providing a better return than current bank rates.
This is a survey aims to get a sense of what interest is out there in investing for a sustainable future. It will not be taken as a commitment at this stage. please note that your response will be treated confidentially.
Could you please let us know whether you would be prepared to invest in a community energy project at the Seymour Sports and Aquatic Centre, and if possible give us some indication of what amount that might be.
- A $500 – $2000
- B $2000-$6000
- C Above $6000
- D Specific amount
Regards to all,