When it passed the
Ontario Green Energy Act,
the provincial government not only made a bold, perhaps world-leading
commitment to sustainable energy, it also created huge opportunities to
make money. By guaranteeing to buy electricity for above-market prices
from those who create green sources of energy (solar, wind, etc.), the
government essentially created a subsidized, guaranteed profit stream
for anyone with the ingenuity and finances to get in the game.
At the time of the announcement, Premier
McGuinty's team estimated the act would create 50,000+ "green collar jobs." And just last week, in a move decried by
some right-wingers and
some left-wingers,
Korean company Samsung led the way with a $10 billion project that is
expected to create 16,000 new jobs and to become the largest
wind-and-solar power-generating cluster in the world.
So: how
does an entrepreneur get in on this? MaRS is hosting a forum on Jan. 29
for the finance sector on investment opportunities presented by the
Green Energy Act. The price tag for the event is $200, and the forum is
intended primarily for financial institutions who will be putting cash
into projects under the act and the "sector players who will require
that finance."
More information and registration at
MaRS. Homeowners of more modest means may still want to look into how they can (more modestly) invest, such as
local solar panel buying groups.
Writer: Edward Keenan
Sources: MaRS, greenenergyact.ca, Financial Post, Canada Newswire, Northumberland Today