Banister House Solar offers an exciting new opportunity for individuals and organisations to support the generation of solar power in Hackney and to contribute to wider action to reduce our dependence on fossil fuels. The project has been 18 months in the planning and it has been a huge achievement to get to this stage.
So far it has raised almost £40,000 towards the target of £142,000 which will make the project actually happen.
A Banister Solar Share Party is planned for 12th May at Dalston Curve garden to celebrate this incredible achievement and attract more investors to participate.
Sustainable Hackney has decided to make a small investment to show our support for community solar in Hackney, and spread the word that organisations can invest as well as individuals.
But if you think this is just for tree huggers to get a warm feeling about the community and environmental benefits that would be wrong, it makes sense as a financial investment too.
As well as average returns of 4% and the return of the stake at the end of the project investors who are UK tax payers can reduce their income tax bill by 50% of their investment. For example someone investing the minimum £250 will reduce their tax bill through PAYE or self-assessment by £125 (if they pay that much tax). This boosts the effective returns considerably.
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