Jun 7 2010
3G Energy Group, a three-person company on the look out for houses with high solar exposure has been giving flyers to families living on the outskirts of Ottawa. The company aims to persuade farmers and other households to use Photovoltaic (PV) installations in their houses. 3G Energy’s solar energy system has an expiry period of 40 years. During this period, the system can produce electricity required to power four houses.
Under the company’s business model, farmers and house owners can purchase a solar energy system for $90,000 and then receive monthly payments for the electricity sold back to the grid. Alternatively, house owners can rent out their land to the company for 20 years and purchase the solar energy system after 4 years at a higher price. During the rental period, 3G Energy will collect monthly payments for the electricity sold and pay the homeowners for using their land.
Graham Findlay, co-founder of 3G Energy Group, said that the duration for the payback period for the first plan would be less than eight years and the monthly checks sent would be more than $1,000. He added that a person buying the solar energy system is making a win-win investment.