Social impact investor Resonance has committed £800k to Big Solar Co-op to fund the installation of rooftop solar panels across the UK.
The investment is aimed at reducing carbon emissions by working towards a goal of 100MW of solar panels on commercial and community buildings by 2030.
The project - led by volunteer-powered not-for-profit organisation Big Solar Co-op with Investment from Resonance Community Developers (RCD) - is driving the transition to clean energy, cutting nearly 40,000 tonnes of CO₂ emissions annually, and helping to power a more sustainable future.
Resonance Community Developers is a social investment fund designed to support and invest in communities to create and own assets that meet local needs and help to build community cohesion by investing in community-led affordable homes or facilities that benefit the whole community.
As energy costs continue to dominate the news, businesses across the UK face ongoing uncertainty. Unlike households, business energy prices are not protected by a price cap, meaning they remain vulnerable to market fluctuations with no government support. While energy rates have fallen from previous peaks, they are still unpredictable, leaving businesses exposed to sudden increases.
In this environment, finding cost-saving solutions is crucial. Investing in on-site renewable energy, such as solar panels, can help businesses reduce reliance on volatile grid electricity, lower long-term costs, and enhance sustainability [2]. As energy prices continue to rise, investing in solar energy presents a viable strategy for mitigating escalating costs and promoting sustainability.
Tom Crook, Investment Manager at Resonance, said: “I’m really excited to be supporting Big Solar Co-op and the incredible work they do. Their commitment to creating real social and environmental impact is something we truly believe in, and we are proud that this investment will help them grow and make an even bigger difference. We look forward to seeing the positive change they continue to create.”
Rooftop solar installations on commercial and community buildings can significantly reduce electricity costs by generating clean, on-site energy and reducing reliance on expensive grid power. Unlike residential homes with pitched roofs, businesses and schools typically have large, flat roofs that are ideal for solar panels, providing ample unshaded space for optimal efficiency [3]. Typically, 50kW system, for example, could save businesses over £10,561 annually [4]. Solar power also offers energy independence, the potential to sell excess energy, and enhances a business’s eco-friendly reputation.
Jon Hallè, CEO at Big Solar Co-op, commented: “The loan from Resonance will enable us to build new solar on the rooftops of buildings across the UK, from schools and leisure facilities to factories and supermarkets.
“All of these new solar installations are co-owned by our members on a non-profit basis - we have over 650 members and more are joining us every day. With the support from Resonance we will be able to build new solar installations at the rate of one per month in the first half of 2025. Together they will generate enough electricity to reduce UK carbon emissions by around 350 tonnes a year - that's enough energy to drive an electric car over 2 million miles.”
RCD operates across England and, including this investment, has committed c£10m, so far to community groups into around 30 community groups, across ten English regions.
About Resonance Community Developers
Resonance Community Developers (RCD) is a social investment fund, designed to support communities to create and own assets that meet local needs and help to build community cohesion, by investing in community-led affordable homes and facilities that benefit the whole community.
RCD supports new and established community enterprises structured as Community Benefit Societies or similar legal entities. The fund invests in pre-development projects as well as land acquisition and construction. The fund mainly invests in projects that
_____________________________________________________
[1] Sunsave, The Top 19 Solar Energy Statistics
[2] Bionic, Why Are Energy Prices So High? Are They Still Going Up?
[3] EGSOLAR, 5 Benefits Of Solar Panels For Schools, Colleges And Universities
Sign up today and keep up to date with all our latest social impact news, innovations and insights so you never miss a thing.
Resonance Limited is a company registered in England and Wales no. 04418625
Resonance Impact Investment Limited, a subsidiary of Resonance Limited, is authorized and regulated by the Financial Conduct Authority (FCA). Firm number 588462.
Disclaimer: This website does not contain, constitute, nor does it form part of, an offer to sell or purchase or a solicitation of an offer to sell or purchase, any securities, investments or financial instruments referred to herein or to enter into any other transaction described herein. Resonance is not providing, and will not provide, any investment advice or recommendation (personal or otherwise) to you in relation to any securities, investments or financial instruments or transactions described herein. Whilst all reasonable care has been taken to ensure the accuracy of the information contained in this website, neither Resonance nor its officers accept any liability for its contents or for any errors or omissions.
