Vancouver Renewable Energy (VREC) now offers a leasing option for systems sized from 30kW – 130kW. The lease functions as a power purchase agreement (PPA) with the payment determined by the actual electricity generated. You only pay for power the system produces. There are no upfront costs.
For buildings seeking LEED certification, these systems may qualify for the On-Site Renewable Energy Credit (EAc2). The initial annual lease cost would be equivalent or less than the cost of obtaining the credit for off-site renewable energy through REC purchases. The cost of the lease will not rise as fast as BC Hydro rates, and as a result, the lessee will save money in subsequent years.
What is the rate that I would pay?
It varies from depending on the size of the system and other factors. Please contact us for anaccurate quote.
What about maintenance and service?
A third party retains ownership of the system and is responsible for all maintenance and service.
What if the system doesn’t produce power or doesn’t perform well.
You only pay for the power produced. It is like a performance guarantee.