MORE than 2,400 panels, 636kW and £633,282: at 10.30am this morning the largest community-owned solar roof in the UK was switched on right here in Oxfordshire.

Motorsports and engineering firm Prodrive is hosting the 2,446 photovoltaic panels on the roof of its Banbury headquarters.

The 636kW power plant is owned by dozens of citizens from Oxfordshire and beyond who invested their own money.

As well as the satisfaction of funding renewable energy, they will get a five per cent return on their investment.

The total project costs £633,282 and was co-ordinated by Oxford social enterprise Low Carbon Hub.

The group has not yet raised all of that money from investors, and took out a loan from Oxford City Council to cover part of the cost, but people can still invest.

The hub said the project’s size was significant not only for the 636kW of clean energy which will be sold to Prodrive and the national grid, but because of where the revenue generated will end up.

One third will cover installation and maintenance costs, one third will pay investors’ returns and the final third will go into Low Carbon Hub’s community benefit fund.

Prodrive chairman David Richards said: "As we are developing the next generation of automotive electric and hybrid systems here in Banbury, it was very obvious that we should use our roof space to generate clean energy for the building.

"The scheme run by the Low Carbon Hub is an excellent way to reduce our carbon footprint and lower our energy bills, while also generating significant funds to re-invest in further schemes within the local community."