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Kentville Company begins Mass Installation Project with Successful Solar CEDIF!

Posted on July 18, 2017

Solar Scotia Energy is the first successful solar CEDIF in Nova Scotia. It has recently met its minimum funding needed to begin and to date has raised nearly 1 million dollars.

The funds invested in Solar Scotia Energy are being used to purchase Solar PV hardware for the primary purpose of financing solar PV arrays on residential homes in Nova Scotia. Customers who are having these arrays installed on their homes are paying an annual lease payment at a very attractive 3.5% fixed over 10 years; at the end of the term there is a $50 buyout fee and the solar PV system becomes their property free and clear. The system will continue to generate free electricity for an additional 15 to 20 years.

Solar Scotia Energy will also use its purchasing power and ability to go direct to the manufacturers to create a solar hardware distribution business in Nova Scotia. This will allow existing solar PV installers in the Maritimes to source hardware from a Nova Scotia company rather than going through distributors in Ontario or elsewhere.

The mandate of Solar Scotia Energy Inc. is to help grow the solar energy industry in Nova Scotia, and is sub-contracting installations to local installers. The addition of a local hardware distributor will help to continue to create economic growth in the province in the emerging renewable energy sector.

The residential installations that will be undertaken in just the first phase of the mass installation project that is being managed by Nova Solar Capital Inc. will increase the installed solar capacity in Nova Scotia by 20%. It is the largest residential solar project ever undertaken in Atlantic Canada.

There is still an opportunity to invest in the Solar Scotia Energy CEDIF; the close date is September 14th. For further information, visit www.solarscotiaenergy.ca.

 

ABOUT NOVA SOLAR CAPITAL INC.
Nova Solar Capital Inc. was founded to help Nova Scotians become leaders in renewable energy, by identifying opportunities and bringing together the financial and technical resources to develop and manage Solar PV projects.

Please direct further inquiries to Marketing Director Amanda Brulé at 902-701-0458 or abrule@novasolarcapital.com.