Part ownership of a Ripple Wind Turbine, fancy it?

[nowty]

If I keep my investment under the 7000 kWh of usage, is it possible to increase that after today?

Yes, I increased my GF holding 3 times before it sold out, and the third time including having my usage agreed above 7000kWh with a load of excuses, heat pump, EV, etc.

[Joeboy]

Nice to see the comms from GF up & running again. Just to see now how far KH April energisation date slides.

Got to say I'm getting a little hacked off with the Billy & Johnny type comms from Ripple.

[openspaceman]

I disagree, ....... if yout total exceeds 7000kwh purchase (including existing holdings) a red box appears asking for proof of useage and you cannot proceed with puchase. It would not let me purchase more than 100% consumption despite the end limit showing 120%.
George

Ditto mine will only go to 100%

I was assuming openspaceman had no earlier holdings in previous ripple projects. If you have holdings in earlier projects then you cannot go over 7000kWh (maybe even 6999) as the sum across all projects before the warning of evidence required appears.

There is also a hidden decimal point in the calculator as you actually buy your quantity of watts to 3 decimal places which you will see when you get your customer agreement.

That's right. The 1.178kW notional generation power share producing 2850kWh does overstate my usage by a factor of three. If I'm here I will be 5 years into extra time by the time it spins.

[nowty]

Ditto mine will only go to 100%

I was assuming openspaceman had no earlier holdings in previous ripple projects. If you have holdings in earlier projects then you cannot go over 7000kWh (maybe even 6999) as the sum across all projects before the warning of evidence required appears.

There is also a hidden decimal point in the calculator as you actually buy your quantity of watts to 3 decimal places which you will see when you get your customer agreement.

That's right. The 1.178kW notional generation power share producing 2850kWh does overstate my usage by a factor of three. If I'm here I will be 5 years into extra time by the time it spins.

Openspaceman, I did mean you could put 2850 Watts of notional generation power and select 100% of it. That will produce just under 6900kWh which is comfortably under the 7000kWh limit without evidence being required, assuming this is your first ripple project.

[Sim_C]

Just bit the bullet and added 600W/1450kWh on the wind project 4.
Signature updated to show current status.

Here's hoping the DW solar construction does not get delayed much more compared with the original forecast so I can start to see some payback.

[openspaceman]

Openspaceman, I did mean you could put 2850 Watts of notional generation power and select 100% of it. That will produce just under 6900kWh which is comfortably under the 7000kWh limit without evidence being required, assuming this is your first ripple project.

Ah my misreading but I am happy with the smaller amount

[MrPablo]

I ended up buying 600w of WB.

I did consider more, but there were several reasons why I decided against it.
- Tax implications (similar to Krill).
- Desire to decarbonise at home, so the money was better earmarked for heat pump & EV.
- Improving home efficiency, improving insulation, etc, so that overall energy consumption is reduced. Again, makes sense to put money into that.

[Yuff]

I’m in a similar position with insulation.
Have a survey next week to install cavity wall insulation in to the coldest part of the house.
I’ll top up to just under 7000 kWh

[Fueltheburn]

I see tax implications being mentioned here a few times.

I thought it would only be a problem if you were not consuming the amount being produced by the ripple project i.e if you bought 6999 kW and consumed 7000 then nothing is spare and it goes towards your bill.
I thought the problems occur when you only use say 500kW and are getting the extra 6499kW paid to you and these are treated as a dividend.

Is it that ALL production from the turbine or solar is treated as a dividend?

It isn't a problem either way, just looking for clarity.

[nowty]

I see tax implications being mentioned here a few times.

I thought it would only be a problem if you were not consuming the amount being produced by the ripple project i.e if you bought 6999 kW and consumed 7000 then nothing is spare and it goes towards your bill.
I thought the problems occur when you only use say 500kW and are getting the extra 6499kW paid to you and these are treated as a dividend.

Is it that ALL production from the turbine or solar is treated as a dividend?

It isn't a problem either way, just looking for clarity.

ALL production from the turbine or solar (minus the annual capital repayment element) is classed as a Coop company dividend but taxed as if it was bank or building society interest for income tax purposes. Its irrelevant how much energy you use or don't use. You will receive a trading statement each year telling you the breakdown between the capital repayment element and the taxable income for the previous tax year in case you need to fill in a tax return.

https://www.uk.coop/resources/community ... ome-tax-cs

The relevant bit for "withdrawable shares" is,

"However, interest paid on withdrawable shares in societies is eligible for the new Personal Savings Allowance (PSA), introduced on 6 April 2016. The PSA will apply a new 0% rate for up to £1,000 of savings income received by a basic rate (20%) taxpayer, or up to £500 of savings income for a higher rate (40%) taxpayer. The PSA will not apply to savings income received by 45% additional rate taxpayers.

If a member already pays tax through a PAYE code, and their total untaxed income from savings and investments is less than £2,500, they can request that any tax they owe is collected through their tax code. If their income from these sources is £2,500 or more they will need to complete a tax return."