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Solar on a Strata - Jan 29 Update

Looking to the AGM
Layout of the 60 solar modules on the roof at Central Park

This is a continuation of the story in Solar on a Strata ?

Last week we received a firm quote for two systems - 12.4 kw and 14.7 kw, which according to pvwatts would generate 14,000 kwh or 16,000 kwh per year respectively. These are sized for optimal feed-in to a 10kw or 11.4 kw Fronius inverter respectively. Prices were in line with my earlier estimates, but I'm not going to post them here until after this is all over. The return on investment at our April 2015 Step 2 residential power rate will be almost 5%, rising to 6% by 2024 based on projected cost increases at BC Hydro. 

The quote came from electrician Mike Geldreich, ('Power to the People' is his company name) working closely with Ed Knaggs at HES-PV to get the prices as low as possible, and the most suitable equipment with an optimum number of panels. . 

Last night the Strata Council met and we voted to present the larger system to the owners for a 3/4 vote at our AGM on February 25. That will be decision date. Meanwhile, I'm developing more info materials for the owners, and will holding another open house at the building to answer more questions and concerns from the owners. Because I don't' live there, I'm not getting the casual conversations in the hallways that would help me gauge the level of support from the owners. 

We're proposing to pay for the system from our strata Contingency Reserve Fund, and then pay it back with an extra levy over 5 years. The total cost for the larger system will range from $555 per unit for the smallest suite to $865 for the largest. Spread over 5 years, the levy will be from $9.25 to $14.42/month. Savings on the common area electricity will range from $25 to just under $40 per year per suite. As a comparison, we're expecting our 2015 suite strata assessments to range from $190 to $295/month. 

Next in the series: Our Vote