Inferno Solar client Cimco Refrigeration—whose annual electricity needs are currently being met by their solar panel array—recently moved into a new 22,500 square foot shop. With a bigger building came higher energy costs. They were interested in solar but the upfront cost was a big pill to swallow.
That’s where the Solar Lease program came in. Here’s how it works: the landlord puts up the capital and leases it to the tenant for less than they save on power. The tenant saves on energy bills and gets certainty about their energy costs, and the landlord’s building is outfitted with sustainable new technology that will attract future tenants and help them meet sustainability goals. It’s a win-win.
“What [our landlord] York Realty offered was an opportunity where we didn’t have to front that capital cost ourselves.”
-Connor McIntosh, RSE – Cimco Refrigeration
What has been the result of Cimco’s new leased solar array? Their Edmonton shop is on par to have essentially zero energy cost. Their solar array meets their annual demand. Since their bills are way down, and they are leasing their solar array for less than their energy bills used to be, the cost to the business is none.
The Solar Club
Cimco is a Small Microgenerator and is a member of the Solar Club, a program where ‘microgenerators’ (i.e. small-scale local electricity production using solar panels) can sell their excess energy back to the grid during peak hours. It shows up as credits on the bill, meaning zero-dollar or negative energy costs, plus extra money that can offset higher bills during our cold and dark winters.
For businesses that qualify as Large Microgenerators, any time the solar array is producing more that the building is using, the excess is sold to the grid at the spot market price. This is often higher than their contract rate, which means they can buy low and sell high. Industrial solar arrays have nothing to lose.
These programs are simple, they’re elegant, and they’re lowering the barrier of entry for businesses to get into solar energy. The Solar Lease and Solar Club programs are how Inferno is making solar affordable.
Thanks to York Realty for helping us make solar more accessible!
It’s time for your business to take a step toward energy independence. Call Inferno Solar today.
587-774-7275.
