Questionnaire on Community Investment Options for Renewables in Ireland

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This QUESTIONNAIRE aims to TEST A NUMBER OF OPTIONS for community participation in Renewable Energy.
The Questionnaire should take between 5 and 10 minutes to complete. A number of slides explaining our research are available here at his link: www.bit.ly/ciopptfg1
Ireland's new policy on supporting the development of renewable energy (*RESS), obliges developers to offer part of new projects for community investment/ownership, and sets a defined rate for Community Benefit Funds. (Note: this does not affect the separate planning process for projects).
Do not forget to CLICK SUBMIT at the end.
THANK YOU! - from Tipperary Energy Agency (TippEnergy.ie) and Energy4All
*RESS, or the Renewable Energy Support Scheme.

Community, Group, or Name

Contact Details (optional)

1. In order of importance, RANK the reasons for involvement in, and ownership of renewable energy developments by the surrounding communities?

As a means of motivating communities to tackle Climate Change

As a means of developing local communities

As a private investment opportunity

To achieve energy independence and security of supply

To ensure that the local environment is not exploited for private benefit only

Clear selection

2. What is your view of your community’s capacity/interest in taking an active role in participating in a local renewable energy development?

Our community has low capacity and low interest

Our community has the capacity to mobilise and oversee a local energy enterprise or fund

Our community would have the capacity to mobilise local investment but would prefer to outsource the ongoing administration of the investment.

Our community currently has low capacity for involvement but would be interested in building our capacity

Clear selection

3. If a renewable energy development (e.g. wind or solar) were to be built in your AREA, please RANK 1 to 4 what you would like your community's involvement with it to be?

Assuming its overall acceptability, planning permission, and availability of community energy supports to your locality

No involvement

An opportunity for secure investment by local residents

An asset for the community to help create benefit for current and future generations

An anchor enterprise in the community, helping it become more self-sufficient, and distributing profits for local benefit

Clear selection

4. What level of participation/engagement would you or your community prefer with local commercial renewable projects?

No participation, happy with just the community benefit fund

Invest in as individuals for personal financial benefit only

Invest, and part own as a community

Invest, part own and part control as a community

Full ownership and control as a community (e.g. Templederry Community Windfarm)

Other:

Clear selection

5. What type of return would you like from investing in a local renewable energy development?

AN EVEN RETURN OVER THE LIFE OF THE PROJECT e.g. an average return 20 years, slightly lower overall

LESS INITIAL RETURN BUT A GREATER RETURN LATER IN THE PROJECT e.g. little return for the first 10 years, but with much higher returns for the second 10 years. Greater overall average return

Clear selection

6. Ownership Model - please plot your preferences for ownership and participation in local renewable developments?

Revenue Share Agreement

Joint Venture

Split Ownership

Other:

Clear selection

7. Ownership Legal Structures - What is your preference for an ownership structure? Please read the summary below and plot your preferences (either Coop or PLC).

Three principal ownership structures were considered to work with the three ownership options recommended by our research. This part of the questionnaire seeks views on the coop and PLC structures. The private company structure was not deemed suitable because of a limit of 150 shareholders. THE COOPERATIVE MODEL HAS THESE FEATURES: •A trusted structure for community enterprise with sound values and principles that has been adopted for community energy projects all over the EU; •Flexibility on profit distribution, members democratically vote each year; •Share interest paid to members is a tax-deductible expense; •JV & RSA not considered as trading in the interest of its members; •Must deliver objectives that do more than pay a financial return to members. THE PLC MODEL HAS THESE FEATURES: •Well known and understood legal form that is familiar to developers, banks and other stakeholders; •Flexible enough to be used for RSA and JV; •Can raise up to €8m Euros in share capital before a share offer has to be regulated; •No constraints on how profit is distributed, •Possible to adopt co-operative values and principles; •A PLC has to pay tax on dividends;

Cooperative RSA

Coop JV

Coop Split Ownership

PLC RSA

PLC JV

PLC Split Ownership

Clear selection

8. Do you think there should be a minimum investment amount for individuals? If so, what?

9. What is your preference on the relationship between local and national investors?

A larger number of investors means greater community share, and potentially greater return to the local community. A minumum investment will be required to have a vialbe entity, e.g. 500,000

Shares should be available to everyone in Ireland on equal terms

Shares should be available widely, however, local investors should have a greater element of control

Shares should be available widely as long as this makes more money available to the local community

Local investors should have full control of the business - e.g. voting shares for locals, shares for nationals with no voting rights or bonds, perhaps using an investment platform

Shares should be available just to the local community

Clear selection

10. Would you as an individual invest in a national investment fund/platform - either a private fund or a state-supported, member-controlled investment platform?

11. If such a national platform existed, would your community be willing to accept investment from the fund into your local windfarm alongside the community’s investments?

12. How should profits from the Community Investment Options be distributed?

Profits should go to the individual investors

Profits should go to the individual investors with a pre-agreed portion going to a Community Fund

Clear selection

13. Should there be subsidised/gift shares for local residents (e.g. 0-10km) without sufficient funds to invest in the local renewable energy development? Y/N

Yes

Don't know

Clear selection

14. If so, how should the cost of these subsidised/gift shares for local residents be covered?

The cost of the subsidised/gift shares should be covered by the separate Community Benefit Fund

The cost of the subsidised/gift shares should be covered by the other community investors?

The cost of the subsidised/gift shares should be covered by a special interest Credit Union finance, guaranteed by the Developer?

Other:

Clear selection

15. What other ways/mechanisms would encourage people, particularly those on low income, to participate in/own local renewable energy developments in their area?

16. What should be the separate Community Benefit Funds relation to a local Community Investment/Ownership energy company?

The Community Bnefit Fund should be managed by the local community energy enterprise (provided the direct CBF payments to the near residents/community are ringfenced)

The Community Benefit Fund should be governed and distributed by a separate trusted local or regional organisation, e.g. Community Development Company

Other:

Clear selection

17. Please share any final comments / feedback on the overall topic.

Submit

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