Southwark community energy fund

Southwark community energy fund has five key objectives.

Objective 1:  To fund community energy projects that reduce carbon emissions and provide benefit to the community

Projects need to reduce carbon emissions to help the environment. They should be inclusive and help communities to lower energy bills of community buildings. They should also make the most of green upgrades to earn money for communities. Projects can also try out new ideas and technologies to use little or no carbon.

Objective 2: Build the capacity of existing community energy groups and support the creation of new community energy groups in Southwark

The fund will help existing and new community energy groups in Southwark. It will help them to work together, share ideas and connect with communities. It will also use local skills, money and enthusiasm to support projects. The projects will improve awareness of climate change and tackle fuel poverty.

Objective 3: Create a pipeline of community energy projects that can then proceed with further capital funding

Helping future projects will make our community energy sector stronger. By giving some early funding (called 'seed funding'), the projects can become more affordable and attract more money later. This can also encourage local people to invest by offering community shares. 

For example, £1 spent on feasibility can unlock ten times more funding at a later stage. This fund will add to other capital funding sources like London Community Energy Fund (Greater London Assembly).

Objective 4: Ensure the fund promotes equality, delivers social value and a just transition for our residents

We will require that projects and groups that are funded match the diversity of our communities. We will also ensure that they are located throughout the borough.

Objective 5: Ensure the fund works to expand the democratic and co-operative economy within Southwark

We will help knowledge and skills to be shared within our communities. This will help to make the sector sustainable and identify new sources of funding.