Universitetets Energifællesskab F.M.B.A (UEF), the solar cooperative set up by AURORA team in Aarhus, announced on Wednesday the start of crowdfunding.
Citizens in Aarhus, especially students and staff at Aarhus University (AU), will be able to participate in the crowdfunding and co-own a 100 kWp rooftop solar installation at Nobelparken, where a few departments of AU are located.
“Most of our students do not own a house or have large savings, but with this opportunity, they can buy one or more shares and co-own a solar installation at the university where they study,” says Marta Victoria, AURORA project lead at Aarhus University, who also sits as a board member of UEF.
“We are excited that the crowdfunding is finally taking place, after a long time of preparation. There are so many citizens who have been following our progress since the start and we are proud to finally announce crowdfunding starts now,” says UEF chairperson Andreas Jacobsen.
The crowdfunding will be carried out in 2 steps: reservation followed by buying shares. Students and staff at Aarhus University are already able to make a reservation at a cost of 100 kr per share through UEF’s website. Later in next spring, those who have made reservation will be invited to buy shares by paying the balance amount, after a contractor is selected. The board of UEF estimates that they will find out the actual cost of a share around January 2024, after evaluating all proposals from contractors. It is estimated that the actual cost of a share will be around 900-1000 kr.
The board of UEF also presented the economic analysis, which showed that it will take between 10 to 20 years for crowdfunders to recover their initial cost.
200 out of 1000 shares are already reserved in 2 days after the announcement.