Green Energy London Co-operative Inc. (GEL)
May 9, 2013
What is GEL?
WHAT IS GEL?
GREEN ENERGY LONDON (GEL) is a for-profit co-operative to develop community-owned renewable and alternative energy projects and public education involving renewable energy, energy conservation and the community power model.
WHO IS GEL’S EXECUTIVE?Shane ONeill PRESIDENT,
Architect
Ted Zurbrigg VICE-PRESIDENT, Business owner
Diane Szoller TREASURER, Project manager
Natalie SECRETARY,
Beauregard Solar developer
Bill McBane MEMBER-AT-LARGE Information management
Jens Stickling MEMBER-AT-LARGE Business owner
Furthers community objectives, tax
exemptBusiness carried out without the purpose
of gain for members, surplus
retained to further the organization’s
purpose
No share capital, may sell bonds, other securities
Non-ProfitMaximize
shareholders’ wealth, taxable
Unlimited return on shareholder’s
capital-dividends, capital gains
Sale of securities regulated by
Securities Act
Business orGoods/services to members, taxable
Surplus distributed as dividends, reinvestment
Sale of securities regulated by Co-
operative Corporations Act
Co-op vs
pictures
THIS IS OUR VISIONWe seek to create multiple projects
as a mix of public, commercial and
residential London roof tops.
GEL promotions
OUR FOCUS -TO ENGAGE RESIDENTS AND SMALL BUSINESS with:INVESTMENT• Provide opportunity for community investment in renewable energy with financial dividends – MicroFIT• Re-invest remaining profit into new renewable projectsEDUCATION• Develop programming and public education to reduce fossil fuels and greenhouse gas emissions, raise awareness and engage societial change• Initiate public policy and political collaboration
OUR OVERALL GOALS -• To improve the quality of our community• To build community capacity, new ideas• To fund community improvements• To support members/investors with dividends• To harvest solar energy, sell to the grid• To be a ‘go to’ for community buy-in• To inform around renewables, climate change• To be a leader (to lead the community)• To engage the next generation• To identify new opportunities• To finance green/sustainable initiatives through community and invest in new projects
Cost of Installation
Related costs
Dividends/InvestorRepayment
Surplus$12,250($612/yr)
Net Cost$124,514 ($18,264) = $106,250
Equipment, assessments$47,000
Inverter replacement, ins.,fees, roof lease, etc.$18,264
$2,250/year (5%) or $47,000 investment over 20 years plus repayment of equipment
PRODUCTION NREL data226,801 kWh x .549 cents per kWh$124,514
The OPA is continuing to process MicroFIT applications until the 50 MW procurement target is achieved. The current price schedule remains in effect.
Example: Micro-FITRevenue of $124,514 20 year investment
Eligible participants include:Individuals UniversitiesFarmers Schools/collegesFarm Co-ops Hospitals/long-term careRenewable Co-ops (public, private)Municipalities Aboriginal communitiesLDC Partnerships Social Housing Faith-based organizations
MicroFIT ELIGIBILITY provides a fixed price over a 20 year term for electricity production, distribution to the province’s grid (10 kw or less)
MicroFIT may involve one of the following renewable fuel types:
Biogas Solar PhotovoltaicBiomass - rooftop solar facilityLandfill gas - non-rooftop solar facilityWind Waterpower
Approvals are conditional to LDC capacity. Hydro One is actively working to increase capacity and quality given aging infrastructure, increased building constructions underway increasing demand, and trends toward smart home applications (residential).
THERE ARE NUMEROUS STAKEHOLDERS IN A SINGLE INSTALLATION
Co-op members/ Sub-contractors/tradesinvestors (electrical, mechanical, roofing, etc)Building owners Local distribution companyBuilding tenants Hydro One (transmission)Financial backers Building departmentLegal reps Electrical Safety AuthorityConsultants Ministry of LabourDesign Engineers Independent reviewersVendors (panels, inverter, Ontario Power Authorityracking, combiners, wire, etc) Public at large
We look forward to: Sharing information Engaging new members and Celebrating a mutual interest in enhancing London’s economic benefits in renewables
Thank you -Questions welcome
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