The International Year of Cooperatives celebrates a different way of doing business, one focused on human need not human greed, where the members, who own and govern the business, collectively enjoy the benefits instead of all profits going just to shareholders.
NeighbourShare Solar Cooperatives are environmental cooperatives that develop community-owned renewable energy projects and educate Ontarians about the community power model.
THE PROBLEM: The large solar projects have been a great opportunity for foreign investors to earn high profits. Seeing that money (profits from the Ontario Solar Incentives have been leaving the Province) the Ontario Government has come up with a way to keep the profits in Ontario. The FIT (Feed-In Tariff Program) is now prioritizing applications that involve the community.
THE SOLUTION: The program will give preference to any proposed project that is a community based project. It requires that 35-50 individuals own property in the municipality where the project is being installed. Indviduals have to own property in the municipality and have to supply the Property Identification Number to the Ontario Power Authority for approval of the project.
THE OPPORTUNITY: Community based projects will allow members of the community to invest in their local NeighbourShare Solar Cooperative. When investing in a Cooperative, investment money can come from an individuals’ self directed RRSP account. The projected return on investment starts at 7% per year for the life of the 20 year contract, but can be as high as 9% per year. For most investors who are earning only 2% – 3% on their RRSPs, this is a huge opportunity.
THE HOW: For further information call our office and/or register to come to one of our seminars and see how you can take advantage of this opportunity
THE REWARD You may have friends or relatives who have reaped the rewards of their microFIT projects. Up until now both them and you have been locked out of the large prjects which have gone to rich foreign or large cooperations. Now you can both get involved in the larger projects at a return that you can’t achieve anywhere under the current economic conditions.
This is a project community cooperative to keep the profits in the local community.
NeighbourShare Solar Cooperatives are community solar energy initiatives spearheaded by Paid4Power Inc*. Your “Local Power Cooperative” is seizing the opportunity created by Ontario’s new Green Energy and Green Economy Act (GEA) and the new rules from the Ontario Power Cooperation (OPA) that encourage ” Cooperative Companies” for the benefit of residents of your municipality by developing a solar power installation on a local facility.
All residents of the municipality will have the opportunity to directly invest in the project by becoming a member of your NeighbourShare Solar Cooperative (a Community Solar Co-operative governed by the laws of Cooperated Companies in Ontario) and purchasing a share. This community power project will allow people, who may not own property suitable for solar panels or do not have the available funds to buy their own solar system, to participate in Ontario’s new green economy. By offering residents the opportunity to invest in the project, Neighbourshare Solar Cooperative is enabling all residents to earn income from solar energy and keeping your energy dollars in our local economy! The project will serve as a demonstration to all local residents of the opportunity to make your community a leader in sustainable energy as well as showing the success of community participation.
NeighbourShare Solar Cooperative’s solar installation will be contracted to sell energy through the Ontario Power Authority’s Feed-in Tariff (FIT) program. The FIT program pays fair, stable and long-term rates for power generated from renewable energy installations. To cover development stage costs, Local Power Cooperative has secured a grant from the Community Energy Partnerships Program (CEPP).
NeighbourShare Solar Cooperative is currently negotiating lease agreements with a selection of local building owners, developing its cooperative business plan and preparing the application for a FIT contract.
* Paid4Power Inc. has installations from Tobermorey on the Bruce Peninsula to Fischerville, near Lake Erie, to Lindsay (near Peterborough) we have extensive knowledge and experience.