Watch this Space - or better still become a member

OREC is very close to finalizing its first projects. We have an approved (receipted) Share Offering Statement from the Financial Services Commission of Ontario (FSCO) and will be ready to sell investment Preference Shares before summer.

OREC members will have the first chance to buy Preference Shares - so join today!

OREC Featured at Ottawa Solar Fair - June 16

OREC will be giving hourly workshops on how our Co-op works and how to invest in solar power systems at the second annual Solar Fair to be held at City Hall from 9 am to 12 noon on June 16. Click here for more details.

FIT Review Finally Completed

The Government of Ontario has finally completed its first scheduled review of its Feed-in Tariff (FIT and MicroFIT) Programs. On March 22, 2012 it released the proposed new reduced rates for solar and wind systems and new rules to encourage more community ownership of FIT projects. The draft rules for FIT 2.0 and MicroFIT 2.0 were published on April 5, 2012.

The Government has also signaled its continuing commitment to the FIT program and promised to look at raising targets for renewable power in 2013. The Program as been as unparelled success to date. FIT contracts have already been signed for over 4700 MW, while a further 6900 MW are in the pipeline awaiting connection capacity.

This is good news for renewable energy and for OREC.

The rate for MicroFIT solar systems has been reduced from 80.2 to 54.9 cents/kWh, while FIT rates for rooftop solar systems have been dropped to 54.8 cents/kWh for <100 kW and 53.9 cents/kWh for <500 kW. These rates are significantly lower than the original ones set in 2009, but do reflect the lower costs of solar and wind projects in 2012 - a good indication that the FIT concept has worked the way it was designed.

OREC has run some financial analyses with the new rates, and it looks like our focus on projects less than 250kW is still a good choice,and that the new rates will still provide a reasonable rate of return.

There is also a new priority points system and other rule changes that are designed to give priority to community owned projects like those OREC is working on.
 

The full review report can be read at http://www.energy.gov.on.ca/en/fit-and-microfit-program/2-year-fit-review/ and the new FIT 2.0 rules at http://fit.powerauthority.on.ca/ 

Read our Frequently Asked Questions on Feed-in Tariffs 

The Ottawa Renewable Energy Cooperative provides an opportunity for any resident of the City of  Ottawa to jointly own and invest in renewable power generation projects in their community, while at the same time earning a reasonable return on this investment.

If you do not have the ability to own your own solar power system, then OREC provides you with an alternative. OREC pools investment from its members allowing them to invest in renewable energy projects larger than those they could individually own.

As well as providing you with a reasonable return for up to 20 years, your OREC investment puts clean local power into onto the grid and creates local jobs and community development.

For more on how it all works see About OREC and see Membership to learn more about the Benefits of Investing with OREC.

Download the OREC Brochure.

If you are a City of Ottawa Resident interested in making a financially and environmentally friendly investment then you should become a member of OREC.

When you purchase a membership for $100, you get:

• Access to investment opportunities
• The chance to have a say in coop decisions
• The ability to create a clean energy source for Ottawa residents
• Support continued solar power development in Ontario