Today we became household members of a new non-profit organisation set-up to provide funding for new renewable energy projects in Australia.
Citizens Own Renewable Energy Network Australia – CORENA
CORENA has been setup to provide donated funds from ordinary people to start an round robin funding scheme for large and small renewable energy and energy efficiency projects. People around Australia are tired of waiting for the Government to really get behind renewable energy and they wanted a way to help kick start the process.
The idea is that donated funds provide an interest free loan for small community based systems that are paid back with the savings from using the system. As the funds are paid back they can be used to fund another small system. As more donations are received the project can expand until it is essentially self supporting with a funding pool sufficient to enable continuous rollout of small systems.
The donated funds can also be used to fund or part fund much larger commercial projects which can provide an investment return which can be added to the total pool for ongoing funding of projects.
It’s important to remember that this is not a monetary investment and the funds are donated. However, it is an investment in our future. If you would like to find out how you can help, checkout the website and facebook page at:
Go on, make a difference.