Now you can get a tax advantage for supporting local renewable energy projects! Future investors in SolShare’s community solar projects will have the option of putting the investment in a self-directed RRSP or TFSA.
SolShare is BC’s first cooperatively-owned community solar project. Our first plant has been producing power for over a year. During the first year we paid out $1.63 per share (shares are bought at $50 each).
Our second plant is scheduled to begin construction in August. Over the next two months we will be doing another round of investments. The minimum investment for this round is $1,000.
We work with a trust company that charges a $55 annual fee to administer the RRSP/TFSA. This may not be a good option for investors who will be buying at the minimal amount. But if you are looking at making a larger contribution it is something to consider.
If you are a client of Western Pacific Trust Company you may be able to add the SolShare Energy shares to your self-directed RRSP / TFSA without any additional fees. If you have a self-directed account with another broker or wealth manager you may want to see if they will allow you to add privately held shares from SolShare. We can provide the legal documentation to support SolShare’s eligibility.