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What will our next project be? Sheffield Renewables Tom Harrison –Volunteer Dr Mark Wells – Finance Director.

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Presentation on theme: "What will our next project be? Sheffield Renewables Tom Harrison –Volunteer Dr Mark Wells – Finance Director."— Presentation transcript:

1 What will our next project be? Sheffield Renewables Tom Harrison –Volunteer Dr Mark Wells – Finance Director

2 Preferences We were looking for:  Lower risk  Simpler scheme  Carbon reductions  Financial performance  Proven record of success  Community involvement

3 Medium sized Solar PV 25-50kW

4 What is solar PV? Produces electricity from sunlight hitting a silicon semi-conductor. Luckily for us in Britain PV panels work from both diffuse and direct sunlight

5 What will the schemes look like? 30kW scheme  Space needed: Approx 200m2  Sell cheap electricity to roof owner  Cost: £35,000-£50,000  Generation: 20,000-25,000kWh/Year  tCO2/year

6 What will the schemes look like? SPACE – A London artists charity - 30kW Ovesco IPS - 30kW Scheme at Priory School

7 Potential locations Already have some potential sites we are looking at If you know any organisations who would like to be involved, we are looking for:  Organisation which has a social link  Large South facing roof (>150m2)  No shading  Roof in good condition

8 Click to edit the outline text format Second Outline Level  Third Outline Level Fourth Outline Level  Fifth Outline Level  Sixth Outline Level  Seventh Outline Level  Eighth Outline Level Ninth Outline LevelClick to edit Master text styles – Second level Third level – Fourth level » Fifth level ‘Sunny Sheffield’ Slightly lower solar irradiance Higher efficiency due to lower temperature

9 Click to edit the outline text format Second Outline Level  Third Outline Level Fourth Outline Level  Fifth Outline Level  Sixth Outline Level  Seventh Outline Level  Eighth Outline Level Ninth Outline LevelClick to edit Master text styles – Second level Third level – Fourth level » Fifth level Click to edit the outline text format Second Outline Level  Third Outline Level Fourth Outline Level  Fifth Outline Level  Sixth Outline Level  Seventh Outline Level  Eighth Outline Level Ninth Outline LevelClick to edit Master text styles Click to edit the outline text format Second Outline Level  Third Outline Level Fourth Outline Level  Fifth Outline Level  Sixth Outline Level  Seventh Outline Level  Eighth Outline Level Ninth Outline LevelClick to edit Master text styles – Second level Third level – Fourth level » Fifth level Other IPSs Other co-operatives have installed similar schemes These organisations are successfully paying back their investors right now

10 What support is there for PV?  FiT Generation Tariff: 13p/kWh (FiT - Feed in Tariff) Government support for higher tariff for community schemes Sell electricity:  Exported electricity to supplier  Below market rate electricity to roof owner.

11 Hasn’t FiT dropped?  Yes: FiT has dropped significantly  ROI’s were much higher than expected (15-20%)  Reduction in cost of PV means FiT level is right for ROI’s of 8-10% Moore’s Law:- Computing power doubles every 2 years, costs half

12 Benefits of solar PV We are positive about solar PV because:  Satisfies our core values  Scalable projects with short lead times  Low risk  Strong financial base for Sheffield Renewables  Social benefits – Supporting partners with energy costs  Outreach and educational benefits  Price per kWp, kWh and t CO2 lower than Jordan Dam

13 Outline Plan  kW of solar PV  3 – 5 installations  Offer to partners: Cheap electricity We claim FiT Profits re-invested in local community

14 Selection of Partners  Organisations who share our ethos  Community Buildings  Public Buildings  Social Housing  Also consider: Lifespan of building Longevity of organisation Onsite electricity demand EPC band

15 Outline Business Case ParameterWorking Assumption Cost£1400 per kW + project management + contingency Total Capacity200 kW Capacity Factor9 % Onsite Electricity SaleA fixed % of market rates Export to Grid4.6 p / kWh FiT12.5 p/kWh

16 Outline Business Case Conclusions:  Offer to shareholders will be similar  3% interest once operating 2 years  Withdrawals after 3 years  Return to Community Benefit Fund

17 Risks Project Completion  Changes to FiT  Problems with partner agreements  Planning issues  Cost increases  Damage to building Project Operations  Mechanical failure  Damage due to weather, vandalism etc  Changes in weather patterns  Changes in electricity prices


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