A recent survey of Ovesco investors indicates that the promise of financial return is not the main reason for investing in locally generated renewable energy.
96% of those contacted in the survey said that they invested for community support and ethical motives. 56% said that financial return was not the main incentive for investing. 74% said they would definitely invest in another Ovesco project. 48% said they would definitely invest in land-based wind turbines. Only 37% sourced their electricity from ‘green’ suppliers – 6% plan to switch to green.
Ovesco’s long term aim is to make the Ouse Valley self-sufficient in energy generation by 2030. The launch of its first scheme, an installation on the roof of a local brewery warehouse, was highly successful and raised well over the money required. Ovesco is currently working on four new projects: PV systems on local farm, school and football club roofs, and the UK’s first community-owned anaerobic digester.