The Handbook of Diverse Economies
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The Handbook of Diverse Economies

Edited by J. K. Gibson-Graham and Kelly Dombroski

Economic diversity abounds in a more-than-capitalist world, from worker-recuperated cooperatives and anti-mafia social enterprises to caring labour and the work of Earth Others, from fair trade and social procurement to community land trusts, free universities and Islamic finance. The Handbook of Diverse Economies presents research that inventories economic difference as a prelude to building ethical ways of living on our dangerously degraded planet. With contributing authors from twenty countries, it presents new thinking around subjectivity and methodology as strategies for making other worlds possible.
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Chapter 41: Community finance: marshalling investments for community-owned renewable energy enterprises

Jarra Hicks

Abstract

To build community economies, we need sources of finance that are aligned with our more-than-economic goals. However, sourcing mission-oriented finance is often a challenge. One solution gaining popularity is sourcing finance from communities with an engaged and ongoing commitment to the mission of the enterprise. This chapter presents examples of the different forms of community finance being crafted to realize community-owned renewable energy enterprises (CORE). It explores the implications of community finance for the creation of ethics-driven community economies. Marshalling the financial resources needed by a CORE enterprise is no small feat and requires a mix of finance arrangements, involving investment, grants, loans, donations, in-kind and more, as well as efforts to reduce costs in creative ways. Decisions to go with community finance over mainstream finance options have important implications for our ability to access sources of finance that are accountable to ethics, patient and grounded in local communities.

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