Solar Bonds in Registered Accounts
Part of SolarShare’s mission is to offer accessible renewable energy investment opportunities to its members, many of whom only invest through their Registered Retirement Savings Plans (RRSPs), Registered Education Savings Plans (RESPs) or Tax Free Savings Accounts (TFSA). As such, SolarShare has commissioned an independent legal opinion that Solar Bonds are qualified investments under Regulation 4900(1)(j) of the Income Tax Act. However, it is up to the discretion of your institution to hold these bonds in a registered account. Therefore, we have developed two pathways in which you can invest.
Invest in a Self-Directed RRSP/RESP/TFSA through your wealth manager, investment advisor, or discount brokerage firm. Get started by sending the SolarShare RRSP/RESP/TFSA Introduction Package to your representative. Please note it is up to your advisor and the institution's compliance department to approve a SolarShare investment and set any fees or criteria for investing. Download the Registered Accounts Information Package here >>
Open an RRSP account administered by the Canadian Worker Co-op Federation (CWCF). They will hold the bond on your behalf in an account with trust agent Concentra Financial. CWCF charges $55 per year to administer the account and you may only hold co-op securities in that account. Be sure to invest an amount that make sense for you based on the interest you will earn after paying those fees. For details and to get started, please read the CWCF/ Concentra RRSP Package here >>