Over a quarter of the money needed for Community Energy Warwickshire’s new solar-powered hospitals project has been subscribed in the first two weeks of the share offer and the scheme has received a further boost with the news that income tax relief will be available on investments.
Community Energy Warwickshire launched the second phase of its solar-powered hospitals project on Monday 31 March, aiming to raise £110,000 to install over 80 kWp of solar panels on roofs at Leamington Spa Hospital and Warwick Hospital. In the first two weeks of the share offer, which runs until the end of June, £28,750 has been subscribed – an excellent start, according to Community Energy Warwickshire’s secretary, Barbara Cooper.
Barbara has also received from HM Revenue and Customs a letter giving advanced assurance that investments in the share offer will qualify for Enterprise Investment Scheme (EIS) tax relief. This means that investors will be able to claim back 30 per cent of the cost of their investment as relief against their income tax payments. “This means a £500 investment will actually cost the investor just £350 if they are able to claim against their income tax,” said Barbara.
For more information about the share offer – and to find out hos to invest – click the green button on Community Energy Warwickshire’s website at www.cew.coop.