How It Works
S ometimes you need to know the details. In this case, the details involve knowing how renewable energy projects are implemented in the province of Ontario. As new programs emerge and old programs devolve, CPN will be at the forefront of renewable energy initiatives in Northumberland.
In 2009, the Government of Ontario enacted the Green Energy and Economy Act (GEEA). It provided an opportunity for Ontario residents to develop and own green energy infrastructure, a fundamental shift away from the conventional energy system characterized by centralized planning. In order to attract investment to renewable energy projects, the Government of Ontario, through its Feed In Tariff (FIT) program, issues 20-year fixed price contracts for renewable energy generation projects. The solar energy produced by each project will go into Ontario’s electricity grid and help power our province.
CPN’s Business Model
CPN enters into 20-year lease agreements with property owners in Northumberland communities to use their land or rooftops for the installation of renewable energy systems owned by the Co-operative’s members. The lease agreements protect the interests of both the property owners and CPN, and lays out the responsibilities of each party. Once the installations are commercially operating, the production of renewable energy generates revenue through the FIT program, which provides guaranteed payment for each kilowatt hour (kWh) of electricity produced, enabling CPN to fully repay member loans, pay off long-term debt, operate the co-operative, and reinvest any surpluses back into the community.
What to read next:
CPN has completed three major rooftop solar installations in Northumberland County Read More
CPN has installed slightly over 1 megawatt of commercial rooftop solar projects in Northumberland County Read More
CPN’s future renewable energy projects and support for local sustainability initiatives. Read More