Solar Panels Make Sense to Local Business Owner

February 11, 2010 at 12:22 am Leave a comment

As a businessman and industrial landlord, Dave Walden wants to make money. But after installing a 250-kilowatt solar system on the 75,000-square-foot rooftop of one of his leased buildings on Industrial Road in Cambridge, Walden hopes he will help the environment, while also being paid for producing energy.

The solar system was purchased from Canadian Solar Solutions Inc., a subsidiary of Canadian Solar Inc., a company that has moved its headquarters to Kitchener and is planning to build a solar panel manufacturing plant somewhere in Ontario, possibly in Waterloo Region, that could employ as many as 500 people. The interest is driven by a new provincial “feed-in-tariff” program, which pays building owners to produce power on their rooftops under 20-year contracts with the Ontario Power Authority. The program will pay 44.3 cents to 80.2 cents per kilowatt-hour for electricity that is produced. By next year, the province will also require that 60 per cent of the content of solar modules be made in Ontario to qualify for the program. That is why Canadian Solar is now looking at sites for a manufacturing plant.

Source: TheRecord.com

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Entry filed under: Cambridge, Waterloo Region. Tags: , , , , , , , .

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