Frequently Asked Questions
You'll first want to check that your roof has room for panels and can bear their weight. Talk to your management company — find out if the roof has an additional 6.5 lbs/sq ft load capacity for a ballasted solar system, and at least X sq ft of space where panels could be mounted.
You’ll also want to think about how (through which meter) the panels will connect to the grid.
Condos present a challenge here because each unit generally has its own meter, plus there is a shared meter for common areas (hallway lights, elevator, parking outlets, etc.) that is paid out of each unit’s condo fees.
In most cases, rather than running wires from the roof to various condo unit meters, the simplest option is usually to connect all of the panels to the metered power for the common areas, so the power generated would offset the shared costs covered by condo fees.
How you go about raising the upfront funds for an installation is also a tricky consideration.
Because it can be difficult to persuade every single condo owner in a building to buy-in equally, or proportionally to their unit size, the simplest option for raising the funds for such a project would be to set up a share structure, where interested condo owners would pool their funds, each contributing what they’re able with the understanding that they would each be compensated for the savings generated by the panels proportionally to the share of the total cost each contributed. Each share could be tied to the corresponding unit so it would be transferred to the next owner if the condo were sold.
For example: Abe, Betty, Carl, Dorothy and Ernie, all condo owners in Sunny Gables, each decide to contribute $5,000 to the cost of a $25,000 installation. Fred, also a condo owner in the building, chooses not to participate. Once the panels are installed, Abe, Betty, Carl, Dorothy, and Ernie would each receive an equal rebate on their condo fees that would be paid out annually by the condo association based on the money saved on the condo’s power bill. Fred would receive no rebate.
Another funding option: if your building has a healthy reserve fund, the condo association could choose to invest that fund in the cost of a solar installation with the understanding that the panels would reduce the building's power bill liabilities going forward, to the benefit of all residents.
Oct
14
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Solar Grant for Member's of the Métis NationMétis individuals can access up to $15,000 in grant money for Solar Installations through the Home Efficiency Initiative Program. 14-Oct-2024 |
Aug
26
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Investment Project 2 announcementOwners of Class C shares will be making Solar happen for this incredible community organization. 26-Aug-2024 |