A new community-owned energy company has been launched on the Isle of Wight, alongside plans for the Island’s first ever community-owned ‘virtual power plant’.
The launch took place on 14th January at Wildheart Animal Sanctuary, bringing together local businesses, community organisations and potential investors to hear about its first flagship scheme – Power Together, the Isle of Wight’s first community-owned Virtual Power Plant.
Vectis Energy has been established by Green Isle of Wight CIC and is run by the same team, providing a dedicated vehicle to develop, own and operate community energy assets while ensuring social and environmental benefits remain on the Island.
The Power Together project will link smart battery systems installed in homes, schools and small businesses, allowing clean energy to be stored when supply is high and released back to the grid at peak times. The scheme aims to improve energy resilience, cut carbon emissions and help reduce energy bills for participants.
Backed by funding from the Ofgem Energy Redress Scheme, the project plans to install between 100 and 200 smart batteries across the Isle of Wight. Households and organisations involved could see annual savings of between £50 and £300, while the scheme is expected to cut carbon emissions by up to 700 tonnes each year.
A strong emphasis has been placed on inclusion, with reduced-cost and fully funded battery options being developed so that lower-income households can also benefit from community energy initiatives.
Speaking at the launch, Green Isle of Wight CIC director Lisa Beaney said:
“Vectis Energy exists because Green Isle of Wight exists.
We needed a structure that could own assets, work with investors and deliver projects at scale – while staying true to our community purpose.
Power Together is the first step, and it shows what’s possible when energy is designed around people, not just profit.”
The event also highlighted strong interest from local businesses and investors keen to support community-led energy solutions that deliver financial returns alongside measurable environmental and social benefits.
Further community engagement is now underway, with registrations of interest open for the Power Together project at www.vectisenergy.org.
Deja vu!
“Vectis Energy exists because Green Isle of Wight exists.
We needed a structure that could own assets, work with investors and deliver projects at scale – while staying true to our community purpose.
Power Together is the first step, and it shows what’s possible when energy is designed around people, not just profit.”
Twenty years ago, some 14 years before Mr.& Mrs Beaney came to live here to educate us peasants, a similar money making “Green” idea tried to take off.
It was called Eco Island.
That too was formed as a “CIC” or Community Interest Company, which made it sound, well, like a benefit to the “community”.
Their publicity statement read thus:
Eco Island, a new innovative and exciting community interest company has launched on the Isle of Wight. At the heart of the Eco Island initiative is to create a sustainable living hub to benefit island residents and visitors.
The Eco Island vision is to bring together all aspects of daily life into a working sustainable community. In an admirable and ambitious plan it aims to:
They proposed a £1,000 “Bond” scheme for punters to invest in.
Then, they founded a “consultancy” company called Three Green Lights.
The “CIC” then paid Three Green Lights around £70,000 year to be their “consultants”.
The “Directors” of Eco Island were the same Directors of 3 Green Lights.
Neat huh?
It did not work then and it won’t work now.
All of this information is out there in the public records.
Good to see Cllrs Blake and Ward keeping an eye on it.
Who’d have thought…what a scam… nice earner if you can get it.
It’s a CIC because profits are ploughed back in, not taken out as director dividends. Like a charity, but without DDs.
Eco Island collapsed in 2013 because of lack of funding, which in turn was to do with lack of education and awareness on ecology, climate, pollution and environmental concerns. In part, it was also to do with heavy energy lobbying to the then Gov’t (Tories) who were more geared to mass profits at all costs.
Since then, people have caught up with the high costs and damage that fossil fuels bring to the point where they are now listening. Work didn’t stop when the original blueprint floundered.
This energy redress scheme is funded by fines etc from the usual energy companies to be put back into cleaner, community energy ideas.
So far it’s put into EV infrastructure, clean water, storm spills, Vestas innovation (creating jobs), biomass, and solar farms.
If ‘peasants’ (as you so scathingly called us all) need educating then so be it. We can’t forever live in the past with our pitchforks in hand, chewing straw while our children’s future literally burns.
You know absolutely nothing about what happened with Eco Island.
If you want the FACTS, I could show them to you.
So just stop with your condescending sanctimonious garbage.
You may believe that you can browbeat anyone at any time, but you have made a huge mistake with me.
Looks like a load of bollocks to me.
It’s a load of bollocks which has already resulted in grant funding of £450,000. Eco Island only got £240,000 grant funding 19 years ago. There is a free (paid for by the taxpayer) money tree for this load of bollocks. Nice eh.
It’s not paid for by the taxpayer, the funding for the scheme comes from the payments from companies that have broken Ofcom rules or failed to meet legislative standards…the fines if you like.
Better to install your own solar like I have
My grid bill is never over £24 per month
Build yourself and don’t get a contract that will rip you off
Quite so. I haven’t paid an energy bill in over a year…Gas and electric.
You are spot on.
Is this reasonably easy to do and, if so, is there guidance available on how to go about it?
Yes it is very easy if you do like I have. After
Solar panels are very cheap now
All in one inverters are cheap and easy to fit
Batteries are getting cheaper
And we all have the biggest collage in the world it’s called youtube
What’s a Smart Battery?
Probably lithium battery
Nothing special they are probably saying smart battery to make it sound special
Good grief. We live in an age of information literally at our fingertips. Have you tried Google?
If you want to know what a smart arse is, one has responded to you below!