Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

UK crowdfunding raises £3m for clean energy projects

Crowdfunding is providing the financial impetus needed to lift renewable energy projects off the ground, as an investment company raises £700,000 in a month, according to Responding to Climate Change.

Abundance Generation, a finance crowdfunding platform, is encouraging ordinary people to invest small amounts to fund renewable energy products across the UK.

Since the project launched last summer, it has raised a total of £3m. A further £7m of new projects are planned for launch through the rest of 2013.

The achievement comes after a recent report, commissioned by the Institutional Investors Group on Climate Change, showed that climate change was becoming a material consideration for investors when deciding where to put their money, but that inadequate and halting policy efforts by world governments were still undermining the flow of capital towards low carbon technology.

So far, the project has raised enough money to complete two renewable energy projects, including equipping schools and new build housing with solar panels.

The solar panels school project will pay an effective rate of return of between 7.2 per cent and 8.3 per cent over the 20 year duration of the project to investors, which equates to a doubling of the investor’s money over the term of the project.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.