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Future Energy Ltd: FairShares Governance for Renewable Energy Production
Added on -2019-09-20
Future Energy Ltd is a specialist in renewable energy production and has been involved in a government-funded venture with community groups to promote renewable energy in housing association accommodation. The project was successful, and the commercial viability of continuing the project is being considered. The estimated benefits, profits, and surplus are discussed, along with the FairShares Company structure and the proposal to license the technology for non-commercial use.
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Understanding Social Enterprise: Theory and PracticeSage PublicationsExerciseFuture Energy Ltd (FairShares Governance)Future Energy Ltd, a specialist in renewable energy production, has beeninvolved in a government funded venture/collaboration with a network ofcommunity groups in deprived urban areas to promote the use ofrenewable energy in housing association accommodation. The project wassuccessful and you are now considering the commercial viability ofcontinuing the project.Future Energy LtdFuture Energy has developed self-build renewable community energytechnology. Now the project has completed, a housing association wouldlike to contribute roof space (on blocks of flats and semi-detached homes)and internal infrastructure (piping and plumbing etc.). This would providesites to implement the new solar panel technology created by FutureEnergy Ltd. There are community groups who want to contribute labour toinstall the self-build systems in housing association properties.You are a member of Future Energy Ltd, which is structured as aFairShares Company. You are being asked by the housing association andcommunity groups to supply panels and share engineering skills to makethe panels efficient. They are proposing that all partners contribute timewithout making ‘up-front’ charges, and that Feed-In Tariff payments willbe shared when energy is generated.1 Technology costs will be covered byan initial investment.Estimated Benefits, Profits and SurplusA consultant has worked out that a household participating in a schemewill – on average – save £100/year in energy costs and generate apayment of £250/year. The first £170 is for generating electricity, and theother £80 is for exporting surplus energy to the national grid.The housing association in this project has 20,000 properties, but only7,500 are ‘south facing’ and fully suitable for installation. A further 2,500might be suitable if the housing association does some work beforeinstallation work begins. This means that the scheme can save at least£750,000 a year in energy costs for residents, and generate at least£1.85m of additional revenue to be divided equally between the housingassociation and Future Energy. 1Gov.uk, ‘Feed In Tariffs’,https://www.gov.uk/feed-in-tariffs;EnergySavingTrust,‘SolarEnergyCalculator’,http://www.pvfitcalculator.energysavingtrust.org.uk/©Copyright Maureen McCulloch, Rory Ridley-Duff and FairShares AssociationCreative Commons 4.0 - BY-NC-SA
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