Edinburgh residents can help expand the city's solar power network with an investment of just £25 ($34). The funding goes to a community-owned project that has already saved the council almost £850,000 ($1.15 million) in electricity costs.

Next up for the community solar program are ten additional city rooftops earmarked for solar panels under the proposed expansion.

Here's what to know

Five schools and the Royal Commonwealth Pool were among the buildings slated for new solar installations under the next round of expansion. To finance the work, Edinburgh Community Solar Co-operative has been seeking £1.13 million ($1.5 million) through a share offer, according to Third Force News.

The co-op estimated an annual interest payment of 5% to residents who become co-operative members by investing.

"This is an exciting next phase for our co-op, putting hundreds of community-owned solar panels on even more buildings across the city," said Vicki Taylor, chair of Edinburgh Community Solar Co-op, per Third Force News. "Every installation generates more clean, green energy and helps reduce Edinburgh's carbon emissions." 

Whether community-wide or on an individual home, solar remains one of the best ways to save money on energy. For households considering residential solar, $0-upfront leases may reduce electricity costs by hundreds of dollars per month, depending on the home and lease terms. EasyHome offers a free explorer tool to estimate potential savings and find vetted local installers.

Helping the environment and the community

Founded in 2015, the solar cooperative has already developed a 30-location solar network, including seventeen schools, several leisure centers, and the council's Waverley Court offices, according to Third Force News. More than 2,200 U.S. tons (2,000 tonnes) of carbon dioxide emissions have been avoided through the network. 

Additionally, proceeds from the solar projects have been invested back into the community. More than £100,000 ($135,000) from the co-operative's community benefit fund has gone toward supporting schools, youth projects, community groups, parks, and green spaces across Edinburgh, according to Third Force News. A portion of the co-operative's profits has gone to the fund each year.

How to participate

Jane Meagher, the Edinburgh Council Leader, encouraged anyone interested in the solar program to participate. She also welcomed plans for more installations on council buildings, according to Third Force News.

For people who rent or lack a suitable rooftop for solar, membership in the co-op has offered a way to receive returns from collectively owned solar, while also helping to reduce community energy costs and air pollution. 

For homeowners looking to benefit from energy upgrades on an individual level, EasyHome also offers battery-storage exploration options. Pairing solar with batteries can help households manage electricity costs by storing power for later use and provide backup electricity during outages, depending on system configuration.

"Investing in Edinburgh Community Solar Co-op means keeping wealth in Edinburgh - generating returns that stay local and help fund community projects, rather than profits flowing elsewhere," said Taylor of the solar co-op, according to Third Force News. "It gives local people the opportunity to invest in something they care about, making community investment accessible to everyone."

Where can I learn more?

From Denmark to Ohio, communities have been exploring shared solar ownership and ways to lower energy costs.

• In Denmark, co-operative members could co-own university rooftop solar and receive yearly returns.

• A U.K. resident was exploring solar on council-controlled roofs, raising questions about who benefits.

• In Ohio, a free solar co-op could cut Duke Energy bills by about $1,000 annually.

• In Rockford, Illinois, a community solar project saved households $98,000 and OSF HealthCare $65,000.

• In Sheffield, 10,000 council homes could receive solar panels and insulation to cut bills by £250.

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