The local win/win economy in action: Engynious Schools
Everybody knows you don’t get something for nothing. But that doesn’t mean you can’t get something for very little, and that’s what we’re proving at Abundance by offering inflation-beating investments from as little as £5. In May we launched our #winwineconomy campaign, to show just how easy it is to use your money to do something good for your wallet and the planet.
A business at the forefront of the win win economy is Engynious, the developer behind the project Engynious Schools.
Engynious are helping make schools more sustainable by installing and maintaining solar panels free of charge. The schools then receive the electricity that the panels generate at a price below what they would normally pay, immediately freeing up budget at a time when schools are feeling the squeeze.
As well as saving money, the rooftop solar systems also provide a valuable practical demonstration of alternative energy to educate and inspire their students and the involvement with Engynious has been well received by staff and pupils.
Cheryl Chatburn, Head Teacher at Rice Lane Infant and Nursery School said:
“We have a large flat roof that seemed perfect for solar PV and Liverpool local authority has supported us. With Engynious we got there and the children are really excited to have them. The children will be writing to the parents to let them know just what we are doing to help look after the world in which we live.”
“For us the teaching and learning that the solar PV system brings is our first consideration. But there are financial savings too, which will come in very handy. The system has cost the school nothing and we will only pay for the electricity we use at a subsidised rate, which will always be lower than the energy companies charge, so it is wonderful to be part of this particular programme.”
King’s Lodge deputy headteacher Peter Shewring commented:
“This has been a very important project for us as it will help us teach about renewable energy and alternative energy sources. We will be using the data generated to help our children understand about energy generation and use. The solar PV will be a great vehicle for us to use to help the children look at energy use. What we have to make sure is that the children understand that by having solar power, it does not mean we can increase our energy use!”
Engynious has so far installed 21 solar systems on 19 schools, with a capacity of almost 800kWp. These systems are already generating electricity, powering classrooms, and inspiring children all across the country. Engynious are also looking to further the win win economy by adding to the Engynious Schools project with more solar systems on more schools!
The Engynious Schools project and any future installations on schools by Engynious falls inline with the government’s strategy to increase the amount of solar on rooftops. Secretary of State for Energy and Climate Change Greg Barker MP recently said that “Solar technology allows schools to cut their energy bills, while also giving children a terrific opportunity to learn more about renewable energy first-hand.”
Barker has also said UK renewable energy is “a safe, low risk, transparent asset class worthy of investment consideration.”
By raising the money through Abundance, locals and parents of the children at the school can also invest in the solar panels themselves from as little as £5, and get a return on their investment. Further to this, the environment is made that little bit cleaner and safer — now and for the future. Proof that you really can have a positive, worthwhile investment where nobody loses, no matter whether you have £5 or £5,000.
RISK WARNING
As with any investment, there are risks when investing on Abundance. Your invested capital is at risk and any return on your investment depends on the ability of the company or council you have invested in to pay your returns. Investments on Abundance are generally long term and you should be prepared to hold them to maturity. The investments are illiquid and you may not be able to sell them if you need your money back earlier, and their value can rise or fall. Some investments may be secured, but this does not guarantee repayment or your return.
Quoted returns are no guarantee of future returns and past performance is not a guide to future performance. Specific risks will apply in relation to each investment. Please consider all risks before investing and read the Offer Document or Factsheet for each investment. The investments on Abundance include debentures or bonds and peer to peer loans — Abundance’s service in relation to loans is not covered by the Financial Services Compensation Scheme (FSCS).
