SolShare Energy’s ownership model is especially suited to remote indigenous communities that are currently using diesel generators for power. The model allows regular community members to become part owners of their community’s energy supply along with the local councils. SolShare also has grants available to indigenous governments to allow them to become owners of these projects.
Working with a fund specifically for co-op projects, SolShare has access to additional capital for at least 5 megawatts (MW) of solar energy plants. This funding can also be combined with funding from other levels of government to increase the size of the projects.
During plant construction, local workers are employed and paid both in wages and shares. By owning shares, community members receive dividend payments every year after the construction is finished. Also, a portion of profits can be used to increase local ownership of the plant on an ongoing basis.
SolShare Energy is BC’s first cooperatively owned community solar energy project. It allows BC residents who can’t install solar on their own homes to become part owners of larger solar energy plants located in communities throughout BC. Ownership is open to all BC residents.
SolShare’s shareholders currently own two solar energy plants in Vancouver. The investors have received regular dividends since 2015.