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ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION

October 28, 2020 | Tough Times Are Full Of Opportunity

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog: www.jugglingdynamite.com

Cutting unnecessary operating costs is always smart, but being able to do so during a big hit to income can be the difference between survival and bankruptcy.

Like most municipalities, the City of Kitchener spends millions on electricity each year.  In 2011, they invested in 2600 solar panels atop their operation facility at the site of the former BF Goodrich tire factory (shown below).

The city sends the electricity collected back to the power grid for a credit on its overall electricity bill.

Within five years, and faster than expected, the panels paid back their initial investment cost and are now producing enough electricity to power 75 homes from this one installation.

In 2020, the savings is on track to be $350,000 to $450,000.

A technological update also allows streetlights to be dimmed for an additional $1.2 million in savings each year.  They are now looking to add more solar installations.  See:  Solar array adds to Kitchener’s bottom line.

Every government building should be capturing passive energy to reduce taxpayer costs today.  No more time and dollars to waste.

You too Alberta! When times are tough, the smart see opportunity, see:  Alberta could lead Canada in wind and solar power by 2024.

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October 28th, 2020

Posted In: Juggling Dynamite

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