Antinuclear

Renewable energy is expected to supply almost 60 per cent of Australian electricity by 2040, according to research by  Bloomberg New Energy Finance, which found the fall in renewable energy prices  would drive a shift from fossil fuels to renewable energy.

One community in NSW has already reaped the benefits of an early move to community-owned renewable energy. Non-profit Repower Shoalhaven installed Australia’s first investor-owned community solar project on the roof of the Shoalhaven Heads Bowling Club last year.

Repower raised $145,000 for the project in just two weeks, with 80 per cent of the cost coming from “mum and dad” investors.

The company has just completed its second community solar investment project in the Illawarra region on Figtree Anglican Church and Nowra City Church.

Head of Repower Shoalhaven Chris Cooper said demand for renewable energy is growing as it becomes cheaper. “People want clean energy and they want secure investments and previously there was no real opportunity to do that so we created a system where the community pays for the solar power system and the business repays community investors via a power purchase agreement.

The Repower solar financing model allows local businesses to purchase community-owned renewable energy at a cheaper rate than grid power.

Figtree Anglican Church member and University of Wollongong Sustainable Building Research Centre masters student Daniel Jones said community owned solar had significantly reduced the overall electricity costs associated with running the church…….http://www.smh.com.au/environment/repower-shoalhaven-renewable-energy-investment-scheme-funded-by-locals-20150629-ghwmmk.html