Note: investment applications received in June will be processed in July as we focus on interest payments and the AGM.

The Importance Of Producing Electricity Where It Will Be Used

May 26, 2015

Midair aerial (1)

Midair is SolarShare's 28th project and grows our portfolio to 4MW 

Why is it significant that we create projects in commercial zones with large electricity requirements, such as our newest project in Brampton?  It's better to produce electricity in areas where it will be used, instead of having to transport it over long distances.

Our newest project is officially up and running on Midair Court in Brampton, a large industrial zone. 

Chris Locher, the Managing Director of Locher Evers International (LEI) and the Midair land-owner participates in SolarShare and other corporate sustainability initiatives because "there is a reasonable return on investment."  His freight-forwarding and customs brokerage company is the largest of its kind in Canada, and like other large commercial buildings, has significant electricity needs. The SolarShare lease provides steady revenue and helps offset the building's carbon footprint. 

Producing electricity where businesses and residential homes need it is an important way to ensure that energy is being created and used efficiently, thereby reducing the transmission charge added to customer electricity bills in Ontario (ex. for Toronto Hydro customers this is 1.366 ¢/kWh). As the IESO states, the recent increase of "small distributed and renewable generation resources [that] are producing electricity closer to the customers that use it, [reduces] the reliance on transmission systems to transport power, often over long distances."

Midair is SolarShare’s 28th project and takes the co-op’s assets to $22 million. Check out the Midair project page to learn more about the project. You can also monitor Midair's production in real time on SolarVu.