RES crowd-investing initiative “Križevci Solar Roofs”
About this good practice
"Križevci solar roofs" initiative has started as a cooperation between Green Energy Cooperative (ZEZ) and the Town of Križevci and is driven by the growing concerns about climate change, the need to reduce GHG emissions, and the desire to increase local RES share.
The objective to become locally more energy independent has been achieved through the installation of two PV power plants on the roofs of public buildings. The first was installed in year 2018 on the roof of the Križevci Development Center and Technology Park (RCTP), and the second in year 2019 on the roof of the Town’s Library, with the power of 30 kW each. The financing of both power plants was achieved through crowd-investing campaigns. The campaigns were very successful, both reaching the needed amount in under 10 days. After the funds were collected, the power plants were installed and the electricity generation began. Compensation from the savings is used to repay the loan to all investors over 10 years with an interest rate of 4,5% for the first and 1% for the second power plant. After the loan is repaid, the power plant will remain the property of RCTP and the Town’s Library which will continue to use locally generated energy.
The main stakeholders are ZEZ and the Town of Križevci and the main beneficiaries are citizens investors and institutions who lent their roofs for PV power plant installation. Indirectly, the beneficiaries of this initiative are all citizens of the Town of Križevci and beyond.
Resources needed
Total cost was 53,000 €. The minimum amount of investment was 130 €, and the maximum was limited to 1,000 €. Compensation from the savings is used to repay the loan to investors over 10 years with an interest rate of 4,5% or 1%. A total of 10 employees of ZEZ and the Town of Križevci were engaged.
Evidence of success
Following the success of the first crowd-investing campaign, the second one was implemented a year later. The funds were raised from the citizens in a record time proving a big interest of citizens to become prosumers. The third crowdfunding campaign was implemented in 2024, and it included a 200 kW PV power plant on the roof of the marketplace in Križevci with similar conditions. Needed funds (140.000 €) were raised within 10 days and the power plant should begin production in autumn 2024.
Potential for learning or transfer
"Križevci Solar Roofs" initiative serves as a model for promoting solar energy adoption through community engagement, government support, partnerships, and financial incentives. Its success lies in fostering community ownership, leveraging government policies, and facilitating collaboration among stakeholders. However, transferability to other regions may be hampered by differences in local context, regulatory frameworks, and financial constraints. Despite challenges, valuable lessons can be learned regarding the importance of tailored approaches, collaborative efforts, and supportive policies in driving renewable energy initiatives. This type of initiative, although repeated multiple time in Križevci (Koprivnica-Križevci County, Croatia), has still not been transferred to other local communities in Croatia. However, with the engagement of experts, relevant stakeholders, and political will from local governments, the initiative could be replicated across Croatia and beyond.
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