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Do you want to install solar panels, but can’t afford the up-front cost?
Do you want to install solar panels, but don’t have a roof or land to use?
Approximate cost to install 10 kW of solar energy on a home: $30,000
Cost to join BREP(Burlington Renewable Energy Project) and contribute to 250 kW of solar energy: minimum $500
The Burlington Renewable Energy Project is the perfect opportunity for you!
The Vision: The Burlington Renewable Energy Project (BREP) is envisioned to be a collaborative group of businesses, non-profit agencies, and individuals that share a common goal of developing locally sited and owned, renewable energy generation projects.
Individual projects will be sized 10 kW – 500 kW and will qualify for a 20 year Feed‑In‑Tariff (FIT) contract program from the Ontario Power Authority (OPA) at a rate of about 72 cents/kWh. All of the electricity generated will sold to the OPA. Profits from electricity projects will be used to develop addition projects, fund educational initiatives and local research into renewable energy development, and to pay annual dividends to members of the enterprise.
How do we plan to achieve our vision? We will start by installing about 250 kW of solar panels on a large commercial roof in Burlington. Burlingtonians (including small businesses, non-profit agencies, and anyone!) will be able to invest in the project. In return, investors will get paid dividends from the project (about 6% annually) and be able to participate in decision-making related to renewable energy in Burlington.
To help achieve this goal we have partnered with the Ontario Sustainable Energy Association, who has successfully been working with other communities across the province to create robust community power projects.
Why does Burlington need a community-based renewable energy project? The Ontario Government’s recently adopted Green Energy and Green Economy Act places emphasis on developing small scale renewable energy projects distributed across the province. To encourage this, the Ontario Power Authority pays attractive rates for energy produced by locally-owned renewable energy projects. While individuals can set-up these projects independently, it is an expensive up-front cost (~ $30,000) and many Burlingtonians do not own land on which to install renewable energy generating equipment. Many people want to participate in renewable energy development but simply cannot.
A community-based renewable energy project allows individuals, small businesses, non-profit agencies, and local institutions to collectively contribute to renewable energy projects at a very affordable price (minimum $500 per member). It is also a way for Burlingtonians to participate in, and have decision-making power over renewable energy in our community. This is because all members of BREP will have a vote in how the project moves ahead.
For more information on this exciting initiative, please contact: Harris Switzman
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