Question 1

What is GRECo?

Answer

GRECo stands for the Guelph Renewable Energy Co-operative. GRECo is a community-owned, non-profit co-operative. We were legally incorporated in 2011. Oversight is provided by a Board of Directors. For more information see: About Us: Vision & Mission

Question 2

What is FIT (Feed-In Tariff)?

Answer

FIT stand for “Feed-In Tariff” and is the name of Ontario’s provincial power purchase program in which GRECo participates. Ontario’s FIT program was launched in 2009 to encourage the development of renewable energy technology, attract investment and create new clean energy jobs in Ontario. The program is helping Ontario meet its goals for improving air quality and reducing its reliance on fossil fuels, including the phasing out of coal-fired generation in 2014.

Question 3

What is a power purchase contract?

Answer

In Ontario, energy can only be sold to the Ontario Power Authority, now called the Independent Electricity System Operator (IESO). GRECo has a 20-year FIT contract with the local IESO, Guelph Hydro. This guarantees that GRECo has a market for power generated by its projects, as well as a guaranteed price. We have a stable revenue stream which is low-risk.

Question 4

How secure are power purchase contracts?

Answer

Under the FIT program, GRECo has a binding 20-year power purchase agreement. Changes in government do not affect these contracts.

Question 5

How do I join and invest?

Invitations for new members in GRECo will re-open when we have a new project and/or new bond offering.

Question 6

Who is eligible to become a member?

Only people, not businesses, can be members of GRECo. You must be a resident of Guelph or the Wellington County.

Question 7

What are my obligations and opportunities as a co-op member?

We encourage all members to attend our Annual General Meeting. You will be required to vote on certain aspects of our management. Each co-op member has one vote. The Board of the co-operative manages strategic and operational decisions throughout the year.

Question 8

What solar arrays does GRECo currently have in Guelph?

GRECo currently has two commercial-sized solar rooftop arrays in Guelph, one on Silvercreek Parkway, and another on Airpark Place. See Current Solar Projects under the Projects tab for more information about these two arrays.

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