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Quarterly Update from SolShare (Nov 2016)

  • By Rob Baxter
  • November 10, 2016December 14, 2016
  • Alternative Investments Blog Menu Renewable Energy Solar Energy Solar Power
Quarterly Update (Aug – Oct 2016)
Plant 1 Production 6,925 kWh
Total from all plants 6,925 kWh
Revenue $916  
     
YTD Production 21,619 kWh
YTD Revenue $2,882  
     
YTD Cash Return on Capital Invested*
3.79%  
Annualized
4.74%  

* This calculates EBITDA (Earning before Interest, Taxes, Depreciation/Amortization) / Capital Invested

SolShare Working with Local Community Groups

  • By Rob Baxter
  • October 23, 2016May 17, 2023
  • Alternative Investments Blog Menu Renewable Energy Solar Energy

Solshare is happy to work with local BC Community Groups that want to set up a cooperatively owned solar project.

 

Why work with SolShare?

Given the economics of grid-tie solar energy in BC it is important to keep costs low in order to give your investors a good return on investment. There can be considerable costs associated with incorporation and meeting the requirements of the BC Securities Commission. By working with SolShare those costs are shared.

 

Here is what you need to set up a co-cooperatively owned community project with SolShare:

1. Investors

A group of investors, willing to invest at least $1,000 to own part of the larger solar array.

 

  • Usually we will need at least 70 investors at $1,000 each. Of course if some investors are willing to contribute more than you will need fewer investors.
  • Investors should expect to receive dividends at least once a year.  The most recent dividend we paid was 4% but we expect to raise the dividend rate as we add new projects.
  • We take care of all the paperwork required by the BC Securities Commission. We use an “offering memorandum” to inform investors about the project and meet the requirements of the Securities Commission.
2. The Site

A building where the owner or tenant is willing to pay for the electricity generated by the solar.

 

  • The first step is to identify a local business, organization or institution that will buy the solar power. Explain that they will be getting a solar system installed at their location with no upfront costs and no maintenance costs. But they will be pay for the electricity generated. They need at least 360 square metres (4,000 sq. ft.) of roof space or ground that is clear and un-shaded. And annual electrical consumption of at least 36,000 kWh
  • Although there are not upfront costs, the building owner does pay for the electricity produced by the system. They also still purchase any additional electricity needed from the utility. So, they are now paying two bills for the electricity but the total paid is less than what they were paying the utility (BC Hydro) previously. This PPA model has been approved by the BC Utilities Commission and is supported by BC Hydro.
  • The best candidate would be a business or organization that is keen to install solar energy but does not have the capital to do so. Supermarkets and grocery stores also can be good potential sites because their need for refrigeration often means there is a good correlation between their demand charges and peak solar production.Once a good candidate is identified, we need to look at their billing information to see if they can save money with a PPA. Ideally we would get a year’s worth of billing data. We also many need to get additional information about their demand curve from the utility company (BC Hydro).

How can you save by cooperating with SolShare?

  • Incorporation costs – we have already incorporated
  • BC Securities Commission compliance – unless you are raising a small amount with a small group of people you will need to file a Prospectus (which can cost $80,000 or more) or use another exemption.  We are using the Offering Memorandum exemption which requires paperwork to be filled and records kept.  We have templates and a database system already set-up to handle the paper work and filing.
  • Audit Costs – If you are using the Offering Memorandum exemption you will need to get an annual financial audit done at least once.  This can cost $8,000 or more.  By sharing the Audit costs amongst more than one project we reduce the costs and allow more profit to be returned to investors.
  • Administration Costs – We take care of the accounting and record keeping.  We also have automatic electronic funds transfers set up to handle the payment to investors.

Quarterly Update from Solshare

  • By Rob Baxter
  • August 24, 2016December 20, 2016
  • Uncategorized
Quarterly Update (May – July 2016)
Plant 1 Production   10,608 kWh
Total from all plants   10,608 kWh
Revenue   $1,403  
       
YTD Production   14,630 kWh
YTD Revenue   $1,965  
       
YTD Return on capital   2.59%  
Annualized Return on Capital   5.17%  

Sharing Solar is Fun – A Children’s Story

  • By Rob Baxter
  • April 7, 2016May 31, 2016
  • Uncategorized

Cooperatively-owned renewable energy is a fairly simple model. But we find some people still don’t understand it. Since I am spending a lot of time reading and telling stories to my three year old I decided to explain how the model works in the form of a children’s story. To simplify things I have changed the amounts by a factor of 1000 but the ratios would still be the same.

Once upon a time Sue, Tim, Jessica, and Pete pooled their money together and bough a solar system for $100. Each of them put in $25.

One day Jill noticed that they had a solar energy system. Jill said, “I have always wanted to put a solar panel on the new house I am building but I can’t afford the $100 upfront cost. Can I use your panel and just pay for the electricity that it generates?”

Sue, Tim, Jessica and Pete thought about it and decided that Jill could do that. They told her that they would charge her $4 per year for the electricity it generated.
Jill said, “Well that is a little bit more than I am paying now for electricity but I will consider it.”

Then Jill found out that the City government was requiring her to meet certain energy efficiency targets with her new home. Her builder told her it was going to cost $200 for these efficiently upgrades. But if she installed the solar energy system from Sue, Tim, Jessica and Peter, she could meet the energy target.

Jill decided that spending a few extra cents each year for the electricity from the solar energy system was worth it.

Jill was happy because she didn’t have to spend the $200 for the other efficiency upgrades.

Sue, Tim, Jessica and Pete were happy because they were getting $1 each per year. And that is more money than they would have received had they put their $25 in the bank.

So they all lived happily ever after.

Community Solar Project Showcase and Tour

Community Solar Project Showcase and Tour

  • By jess
  • March 15, 2016December 12, 2016
  • 1 Comment on Community Solar Project Showcase and Tour
  • Alternative Investments Blog Menu Renewable Energy Solar Energy Solar Power

Solshare Energy is hosting a Community Solar Project Showcase and Tour on March 30th, 2016 to present BC’s first community owned solar energy project producing clean energy. The 23 kW photovoltaic plant, recently installed in East Vancouver at Vancouver Cohousing, a multi-family residential complex, officially began production recently. Bullfrog Power provided construction financing for the project and has been a great supporter of the community solar project. The project is one of the first leasing projects under BC Hydro’s Net Metering Program.

The launch event is open to the public and will include brief remarks by Vancouver City Councillor Andrea Reimer, free hot drinks, snacks, door prizes, mini tours of the community solar project and more!

Wednesday March 30
3:30pm-6:00pm
3:30pm: Solar Tours every 10 min
4:00pm-4:40pm: Remarks from Vancouver Renewable Energy, Bullfrog Power, Vancouver Cohousing and Vancouver City Councillor Andrea Reimer
4:40pm-6:00pm: Solar Tours every 10 min + mingling

Vancouver Cohousing
1733 E 33rd Avenue, Vancouver

RSVP to the event here>>

About Solshare Energy

Solshare Energy is BC’s first cooperatively owned community solar energy project. Solshare’s plan is to own a portfolio of renewable energy installations throughout BC that will engage BC residents and offer financial, social, and environmental returns. Solshare Energy is a project of Vancouver Renewable Energy Co-operative (VREC).

If you have any questions about the event, please contact:

Kathryn MacDonald
778-869-8333
kathryn@vrec.ca

Van CC Cohousing solar
Vancouver Cohousing Solar

BC’s First Community Owned Solar Project Raises $69,000

  • By Rob Baxter
  • February 3, 2016December 12, 2016
  • 1 Comment on BC’s First Community Owned Solar Project Raises $69,000
  • Alternative Investments Blog Menu Renewable Energy Solar Energy Solar Power

Solshare Energy, BC’s first community owned solar project, has just completed another round of financing and now has a total of $69,000 in share capital from investors.

The funds raised will be used to complete the purchase of a 23 kW photovoltaic plant recently installed in East Vancouver as well as other start-up costs. The photovoltaic system is installed on a multi-family residential complex and is expected to officially begin production later this week. The revenue from selling the electricity from the system will be used to pay dividends to investors. Dividends have already been paid out to investors who bought shares in earlier financing rounds.

Solshare Energy plans to add additional solar plants located throughout BC to its portfolio and will be seeking new investors as these plants come online.To receive updates on investing in Solshare fill out our contact form.

Van CC Cohousing solar
Cohousing Solar

BC’s First Community Solar Energy Project Pays Dividend

  • By Rob Baxter
  • January 26, 2016
  • Alternative Investments Blog Menu Renewable Energy Solar Energy Solar Power Uncategorized

Solshare Energy has announced it has paid its first dividend of $0.41 per share. This is an annualized return of 3.3%.

“We are excited to offer BC residents an investment in local renewable energy projects that offers an ongoing income stream.” said Solshare CEO Rob Baxter. “We have seen considerable interest for a truly local ethical investment alternative.”

Solshare Energy is also currently accepting another round of investments that will help finance its first installation.
IMGP0747

About Solshare Energy

Solshare Energy is BC’s first cooperatively owned community solar energy project. Solshare’s plan is to own a portfolio of renewable energy installations throughout BC that will engage BC residents and offer financial, social, and environmental returns. Solshare first installation was a 23kW system installed in east Vancouver. Solshare Energy is a project of Vancouver Renewable Energy Co-operative (VREC).

Georgia Straight covers Solshare

  • By Rob Baxter
  • September 26, 2015December 12, 2016
  • Alternative Investments Blog Menu Renewable Energy Solar Energy Solar Power

Screenshot from 2015-09-25 23:12:46
Vancouver’s SolShare Energy hopes to raise $1 million for community-owned solar-power projects

Shareholders would receive dividends in return for “ethical investment”.

Full story at:
http://www.straight.com/life/542026/vancouvers-solshare-energy-hopes-raise-1-million-community-owned-solar-power-projects

Work on First Project Begins

  • By Rob Baxter
  • April 29, 2015
  • Alternative Investments Blog Menu Renewable Energy Solar Energy Solar Power
  • community owned energy

We have begun installation of our first project. Crew from Vancouver Renewable Energy (VREC) started installing the roof mounts for the solar modules at a site in Vancouver.

The 23 kW photovoltaic system is being installed on Vancouver Cedar Cottage Co-housing. The complex is currently under construction so the system will not be brought fully online until later in the year when the electrical systems are in place.

The Solar Revolution is Here

  • By karen
  • April 11, 2015
  • Alternative Investments Renewable Energy Solar Energy Solar Power
  • fossil fuelsRenewable EnergySolar Energy



Solshare Energy is running a series on the solar revolution all over the world to help BC residents better understand why solar power is coming to a roof near you, why it’s viable here and how you can take advantage of its growth.  But what exactly are renewable and non-renewable” sources and why are they viable today? In this blog we’ll look at various energy sources, some we already use in our daily lives that can be both renewable and non-renewable. Let’s take a look at some of the different varieties.

Types of Energy Sources

Fossil fuels: the dominant source of energy in the world, formed by the sun over millions of years. Fossil fuels are a hydrocarbon that sit below the earth’s surface that are eventually converted into crude, natural gas and coal.

Wind: generated in part from the sun by heating the air which changes air pressure and generates power using wind turbines both on land and sea.

Hydropower: the dominant energy source for electricity in British Columbia created by dams that use the force of water.

Tidal: a form of hydropower that uses the gravitational effect from the moon and sun creating motion by the water and is often used in the ocean.

Geothermal: generated by the earth’s heat much like geysers, volcanoes and hot springs.

Solar: is derived from the sun’s heat and light. It’s also the only source of energy that produces every other energy we currently use. Solar power is International Energy Agency said solar power could be the number one source of electricity on earth by 2050. (Source).

You may have noticed that the common thread among these forms of energy is they all depend on the sun’s power. Harnessing the sun’s power to generate electricity is nothing new. But the solar revolution that’s occurring all over the world is happening for one major reason: the price of solar panel has dropped drastically in thirty-years making the technology accessible and profitable.

In the next issue in our series on the solar revolution we’ll talk about how solar power works and why it’s reliable and viable for BC residents today.

Solshare Energy is a community-owned solar energy project in BC.   If you would like more information on Solshare Energy please enter your details in the form below.



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Recent Posts

  • Marginal Emissions Factor
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SolShare Energy is BC’s first community-owned solar energy investment program. SolShare’s mission is to enable investors to share in ownership of a diverse portfolio of renewable energy installations throughout BC that offer financial, social, and environmental returns. Solshare Energy is a project of Vancouver Renewable Energy Co-operative(VREC).

Our Address

  • Unit A - 1245 Glen Drive Vancouver B.C. Canada V6A 3M8
  • +1 778 869 8333
  • main@solshare.ca

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