Solar for Schools CBS Secures £3 Million Loan to Expand Renewable Energy in UK Schools

Funding Source and Amount

The Solar for Schools Community Benefit Society (CBS) has secured a £3 million loan from Triodos Bank UK, supplemented by crowdfunding bond finance to accelerate the installation of solar panels on schools.

Current Operations and Future Plans

Currently, CBS operates over 150 rooftop solar installations and has over 100 schools on the waiting list. The new funding aims to add solar panels to around 30 more schools, focusing on economically disadvantaged areas.

Partnership with Solar Options for Schools

Solar Options for Schools handles the development and management of these projects, ensuring funding efficacy and the implementation of educational programs on renewable energy, climate change, and sustainability.

Educational Component

The initiative includes interactive workshops, assemblies, and STEM resources to educate students on renewable energy and sustainability, highlighting its role in decarbonizing society.

Ownership and Governance

The CBS is owned and governed by the schools, allowing them to save on energy costs and advance towards net zero targets. Surplus solar energy is shared, and schools benefit from lower fixed electricity rates.

Impact and Benefits

Solar installations significantly reduce energy costs and carbon emissions. An example is Churchfields Junior School in East London, where a 154kW system covers 90% of the school's annual electricity demand and is expected to save approximately 500 tons of CO2 over 25 years, already reducing energy bills by £5,000.

Triodos Bank’s Commitment

Triodos Bank has a strong history of supporting renewable energy in the UK, having lent £85 million to over 30 community energy projects over nearly 30 years. The recent loan reinforces their mission to support environmentally impactful projects.

Celebration of the Funding Milestone

The partnership with Triodos Bank was commemorated with a workshop at Churchfields Junior School, where bank staff engaged with the school's Eco Committee to inspire students on renewable energy's impact.

Future Prospects

Robert Schrimpff, co-founder of Solar Options for Schools, is optimistic that this partnership will pave the way for future funding opportunities, potentially extending the model to church-owned schools, larger councils, and other community groups.

Historical Context and Additional Initiatives

To date, the CBS has raised over £6 million from nearly 1,000 bondholders to fund over 15 MW of solar power systems in more than 150 schools. Collaborations, such as the one with National Grid, also aim to support schools in achieving net zero goals through substantial solar project funding.