Community Solar and SPICE Presented by: Solar Energy Society of Alberta - September 26, 2019 Warren Sarauer Chair of the Board
SPICE Story Who is SPICE? • The Solar Power Investment Cooperative of Edmonton (SPICE) is a community investment cooperative focused on the development of renewable energy projects that bring benefits to the greater Edmonton region. • Creating competitive, ethical, community powered investments with people, planet, and profits weighted equally is SPICE's primary commitment.
SPICE Story 2012 – 2015 • SPICE started as a grassroots organization. It was founded and officially incorporated as an Opportunity Development Cooperative (ODC) by three passionate and involved community leaders focused on economic empowerment, environmental sustainability, and solar power. • SPICE is a cooperative by intention and embodies the 7 cooperative principles while continuously striving to share their benefits with other organizations through open collaboration.
SPICE Story 2015 – 2017 • The current Board Of Directors was established with local and influential leaders in the solar industry who have 75 years of combined experience in solar development. • SPICE also started dipping it's toes in solar and training projects helping with the development of the Edmonton Federation of Community Leagues (EFCL) Green Leagues program for Edmonton communities interested in greening their energy and leading in sustainability practices.
SPICE Story 2017 – 2019 • SPICE was a successful applicant for a significant Community Energy Capacity Building Program grant from the Government of Alberta to help "Lead and Seed" community energy in Alberta, for Albertans. • This funding support was vital in assisting SPICE with it’s legal establishment, bylaw development, board training, website creation, and much more…
SPICE Projects 2020 • SPICE is currently working with the Anglican Diocese of Edmonton (central Alberta from BC to Sk), the Northern Alberta Coop Housing Association and Servus Credit Union on developing projects and how to commercialize them for investors. • Have had discussions with various community groups such as the Edmonton Community Development Company.
SPICE Investments How it works SPICE is a one-stop Community Property owner facilitator connecting: renewable energy needs financing for project is rooftop solar Property Owners • developed and project and has Community Investors • generates revenue limited knowledge Project Developers • Local EPC’s • Investors select vetted projects to invest in and receive competitive returns over time
SPICE Investments CEDC Tax Credit • New opportunity for investors through the Community Economic Development Corporation (CEDC) Tax Credit. • Newly developed legislation (Investing in a Diversified Alberta Economy Act) will allow SPICE, other ODC’s, and social funds with social impact initiatives to offer a 30% income tax credit for investors.
SPICE Investments Next Steps • SPICE will be looking to access project development funding through the new Community Generation Capacity Building Program to establish it’s first investment-ready project. • Once the first projects are made available, SPICE will be sharing updates through our website and with those that have expressed interest through our presentations. STAY TUNED!
SPICE Website Announcing www.JoinSPICE.ca
SPICE Social • Facebook: https://www.facebook.com/JoinSPICE/ • Twitter: https://twitter.com/JoinSPICE • LinkedIn: https://www.linkedin.com/company/JoinSPICE/ • E-mail inquiries: hello@JoinSPICE.ca
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