We have raised money to develop renewable energy projects through a combination of prize money, grants and investment. This includes:
- £175,790 investment from our 129 Members
- Support in kind or grants from Community Action Groups, Grass Roots Foundation, Mid Western Cooperative, Oxford City Council, SEEDA and West Oxford Community Association.
- Prize money from the NESTA Big Green Challenge, the Low Carbon Communities Challenge run by DECC ( Department of Energy and Climate change). In January 2010 the West Oxford Model came fourth out of 350 entrants in the The Big Green Challenge run by NESTA (National Endowment of Science Technology and the Arts) and received an award of £100,000 which was shared between WOCoRe and LCWO.
- In addition, in December 2009, we were also one of 22 winners in the Government’s Low Carbon Communities Challenge run by DECC. WOCoRe received an award of £803,000. However, a subsequent EU policy on combining state aid with the Feed-in Tariff made it impossible for WOCoRe to claim the Feed-in Tariff for many of the installations funded by this DECC grant. As a result we had to disinvest ourselves of many of our state-funded renewable energy installations, so we were able to retain the Feed-in Tariff income from our remaining portfolio of installations.