A Dutch community set a new world record for crowd funding this week. All 6,648 shares of a wind turbine were sold to 1700 Dutch households in under 13 hours!
Windcentrale, the company behind the project, was able to raise 1.3 million Euros and there is currently a waiting list for any additional wind-shares to be sold in the future.
So how does this wind turbine share program work? Each wind-share costs 200 Euros and amounts to approximately 500kWh of electricity. To give you some perspective, the average household in the Netherlands uses about 3500kWh of electricity in a year. In addition to the cost of the wind-share, there is an annual wind turbine maintenance fee of 23 Euros per share. Even if the cost of electricity does not increase, the owners of these shares will experience energy cost savings. However, since electricity prices are expected to increase, they are likely to experience even greater savings for the next 12 years.
The founder of Windcentrale, Harm Reitsma, said “’We expected things would move fast, but nobody anticipated the run on the wind-shares that happened yesterday evening. An increasing number of people want to generate their own electricity. Solar panels aren’t always an option and so wind-shares in a remote wind turbine gives everyone the chance to take matters into their own hands and generate their own clean electricity. As a result, interest in our wind-shares has been huge, and continues to rise. A good example of Power To The People!”
What do you think about this business model for wind energy? Do you think more communities should have the option of buying into wind turbine shares?