What’s happened to my money?
You have invested in Dorset Community Energy for a period of twenty years. Over this time period it is expected that you will receive an annual interest payment, projected to be between 5% p.a. and 6% p.a. and capital repaid over 17 years from year 4 onwards. Members’ interest is paid from the income generated, and paid annually in arrears. Interest will vary according to a number of factors including hours of sunshine each year. The interest to be paid each year will be recommended by the Directors and agreed by Members at the AGM. The 2017 AGM was held on the 12th July and the minutes are available under Member Resources on the right hand side of this page.
What happens if I die?
Transfer of shares in the event of a member’s death
The Dorset Community Energy Rules, available at this link and on the sidebar of this web page, contain detailed guidance on pages 5-7 on transfer and withdrawal of shares on the death of a member. In the event of the death of a member, the full repaid value of their shares plus accumulated interest will normally be added to their estate for probate purposes.
However, shares in Dorset Community Energy valued at £5,000 or less can be transferred to a nominated person on death, provided the member has completed the Share transfer on death- nomination form, available at this link and on the sidebar of this web page. The nominee will have the full rights of the deceased member.
Alternatively if there is no nominee, for shares valued at £5000 or less, the society may (at the society’s discretion) transfer the shares to the person who seems to have the legal right to them (member’s wife, husband, civil partner or children, for example). The society will ask for evidence of their right. The society is unable to transfer the shares to that person if the personal representative has applied for probate or letters of administration.
How does the community benefit?
The schools and community buildings are benefitting from free or low cost electricity, predicted to be worth in excess of £600,000 over the 20- year period. Each building is also being provided with a real-time monitoring display. In addition DCE members have worked with the Dorset County Council Sustainable Schools Project Officer to develop educational kits and resources to enhance the learning potential of the solar panels.
I want to join – where do I send my money?
We don’t currently have any open share offers. Due to changes in government policy on feed-in-tariffs it is unlikely that new solar photovoltaic projects like those already installed will be financially viable in the near future. The Directors are currently considering alternative options for future development of the Society.