SunEdison, a subsidiary of NYSE-listed MEMC Electronic Materials, has recently announced an agreement with Ontario’s the Remington Group to develop 14 rooftop photovoltaic (PV) projects that will produce up to 3 megawatts of capacity. The agreement is for SunEdison to finance, build, own, and operate the solar panel technology to be hosted on the real estate and property management company’s facilities. The electricity to be generated, meanwhile, will be purchased by the Ontario Power Authority through its feed-in-tariff (FIT) initiative.
The 14 solar PV projects will all be located within the Greater Toronto Area and are scheduled for installation in phases starting this year. From 2010 to 2030, the solar PV facilities are expected to generate the clean energy equivalent of removing 9,000 automobiles from the road for an entire year - or enough to displace 42,000 tonnes of carbon emissions.
Solar Installation in Line with the Remington Group’s Environmental Commitment
The Remington Group has expressed its commitment to sustainable energy sources. Company president, Christopher Bratty, has commented that “green energy has been and will be a key focus for Remington.” He shares that the company chose SunEdison based on its track record of successful solar photovoltaic installations. “They have tailored a solar program for Remington that will drive revenue from rooftop space that would otherwise be unused. It’s a win-win for everyone.”
An Expected Increase in Solar Installation Projects in Ontario
SunEdison, meanwhile, expects that the project will help set a precedent for other businesses to model. Jason Gray, SunEdison’s Country Manager for Canada says, “I’m pleased to see the momentum building in Ontario for clean, financially-rewarding solar energy. And, with respected companies like the Remington Group leading the way, others are sure to follow.”
Ontario has recently announced its approval of 184 large-scale green energy projects, totalling 2,500 megawatts, in addition to 510 other, smaller-scale projects. Increasing demand for renewable energy in Ontario is expected to create thousands of job and business opportunities in the region - especially for professionals with solar panel installation training. According to a CanSIA survey on Canada’s solar industry, more than half of all companies expect severe labour shortages, with installation often cited as the chief skill in short supply.
Schools offering solar PV courses have expressed optimism about the increased interest in solar photovoltaic technology, both from businesses and homeowners alike. With $9 billion in private sector renewable investment floating throughout the province, such optimism is probably justified.
