COREMs Large Scale Community-Owned Solar Farm Survey

Complete survey to go in the draw to WIN a double pass to Renew Fest 2018 🔅

COREM has brought together a consortium of private landowners in the Byron Shire interested in providing sites for the installation of community-owned renewable energy generation equipment. A community ownership model is proposed by COREM to fund and operate these solar farms. The focus will be on large-scale community-owned renewable power generation in order to generate substantial clean green energy for our region.

The expected cost of these projects is $1.5M per 1MW. COREM is seeking to deliver 30MW by September 2019 in accordance with the Byron Shire’s 100% transition goals to community-owned renewable energy.

This project has in-principle support from Byron Shire Council and Zero Emissions Byron.

The following short survey has been designed to gain an understanding of the preferences the residents of Byron Shire may have for investing in community owned solar power generation. Also, the feedback will better assist COREM in delivering the optimum model for the community’s requirements.

This survey will be open until May 17, 2018. A community engagement process will then be facilitated on Sunday May 20 at Renew Fest 2018, at the Mullumbimby Showgrounds, making use of the survey results to draw down the key design elements the Byron Shire community wish to see included in COREMs value “buy in” offer for their proposed Community-Owned Large Scale Solar Farms. For more info go to www.renewfest.org.au.

COREM appreciates you taking the time to complete this survey.

Please nominate your preferred response to each of the following questions:

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* 1. Are you familiar with the concept of how community-owned renewable energy projects either in Australia or overseas are funded and the benefits to investors/members (financial and/or social)?

Yes

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* 2. Community-owned renewable energy projects can be funded in a variety of ways. If you chose to invest in a community-owned renewable energy project, how would you prefer to invest?

A. Equity - you own part of the solar farm. Returns are typically higher but variable and there is no fixed repayment schedule.

B. Debt - you lend to owners of the solar farm. Returns are typically lower but stable and there is a fixed repayment schedule.

C. Pre-Purchase - you pre-buy power at a fixed price from the owners of the solar farm. It’s a long-term contract that you can on-sell if circumstances change.

D. Not interested in investing.

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* 3. If you chose to invest in a community-owned renewable energy project, how long would you be prepared to invest for?

A. Indefinitely with an option to leave when you want (either get your loan back or sell your equity to another investor)

B. Short term (2 years)

C. Medium term (5 years)

D. Long term (10 years)

E. Not interested in investing.

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* 4. If you chose to invest in a community-owned renewable energy project, bearing in mind the many social, environmental and financial benefits to the community, what level of return on investment would you want?

A. Standard bank savings account (approx. 2%)

B. 12month term deposit with a bank (approx. 4%)

C. Average rental property (approx. 6%)

D. Higher risk portfolio investment (approx. 8% or greater)

E. No minimum return wanted.

F. Not interested in investing.

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* 5. If you chose to invest in a community-owned renewable energy project, how much might you be prepared to invest?

A. $100

B. $500

C. $1000

D. $5000

E. $10,000

F. Greater than $10,000

G. Not interested in investing.

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* 6. There may be high net worth individuals or professional investors that may assist in providing much needed start-up capital should the community’s funds not be sufficient to start the project. The idea would be for these investors to sell all or most of their portion over time as more community investors became available. Would you be concerned if high net worth individuals were involved in funding the project?

Yes

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* 7. It is envisaged that a project of this nature will require complete transparency, compliance with relevant legislation and strict due diligence processes in place. Are you comfortable for COREM to govern the delivery and ongoing management of a large community-owned renewable energy project in Byron Shire, subject to COREM contracting relevant legal, financial, other professional and technical expertise when required?

Yes

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* 8. What is your age demographic?

A. Under 25 years

B. 26 to 45

C. 46 to 65

D. Over 65 years

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* 9. Where do you live?

A. Mullumbimby 2482 postcode area

B. Byron Shire and surrounds

C. NSW

D. Other Australian state or territory

E. International

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* 10. Any other relevant wishes, concerns or comments you have...

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* 11. COREM very much appreciates your participation in the above survey. 🤗 To thank you we would love to enter you in our Large Scale Community-Owned Solar Farm survey draw to WIN a double pass to Renew Fest May 18 - 20, Mullumbimby. If you'd also love this, please provide your following details...

Name

City/Town

State/Province

ZIP/Postal Code

Country

Email Address

Phone Number