PowerStream looks to the skies for new venture

By J.T. McVeigh The Barrie Examiner September 16 2010
PowerStream is making more than hay when the sun shines.
A breakfast meeting in Barrie, Wednesday morning, introduced the distribution utility’s plans for their foray into the solar energy generation business.
PowerStream, which services more than 320,000 customers in Barrie and areas north of Toronto, will soon be generating energy from photovoltaic (PV)
systems through lease arrangements with commercial, industrial and institutional building owners.
In short, they rent your roof.
Once a leasing agreement has been arranged, PowerStream installs, maintains and monitors large solar panels, collecting energy and sending it into the grid.
According to Peter Meffe, chair of PowerStream’s board of directors, the utility has already secured lease agreements that will result in the -generation of near seven megawatts of electricity.
“This is an amazing opportunity for building owners. They will not only gain additional revenue from having an annual guaranteed income through lease agreements for the the under-utilized roofs, but will also be able to to demonstrate to their customers, communities and other key stakeholders that they are committed to being leaders in environmental sustainability,” he said.
The venture is possible because of recent provincial legislation in the Green Energy and Green Economy Act.
The Act takes a two-pronged approach to creating a green economy, by bringing more renewables to the province and the creation of energy efficiency measures to conserve energy.
The act also includes measures the province hopes will foster a new green economy for Ontario by giving groups and businesses the chance to developed renewable energy generation projects.