A solar panel array installed by Kitchener in 2011, that at the time was the largest in Canada, has provided more than $100,000 for the cities bottom line in the first six months of this year.
The cities Sustainability officer Claire Bennett says “It equates to ultimately between about $350,000 and $450,000 a year,” adding, that it paid itself off in less than 5 years.
The array, which sits atop Kitchener’s operation facility at 131 Goodrich Dr., the site of the former BF Goodrich tire factory, generates enough electricity for 75 homes.
The revenue generated is gained in the form of credits by selling the power generated to the electrical grid. Much in the same way average households pay off their own solar panels. With numbers like Kitchener is reporting; one would hope that more municipalities take a good hard look at how they might integrate solar systems into their own budgets.
Sports facilities, shopping malls, municipal facilities could all prove even more valuable lands if they used their massive footprints to generate power as well.
A UoA student broke down the benefits of Solar Power last year. MIT has also been doing research on the impact solar could have on the environment as well as nations positions globally, depending on how much they invest in the technology. “Solar energy has recently become a rapidly growing source of electricity worldwide, its advancement aided by federal, state, and local policies in the United States as well as by government support in Europe, China, and elsewhere. As a result the solar industry has become global in important respects.”