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Solar Flow-Through Projects Reach Final Approval Stage
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Solar Flow-Through is moving quickly toward realizing a major position in the emerging solar energy sector of Ontario, Canada. This month, 70 of our partnered applications to develop solar projects in the province have moved to final Stage 4 approval with the Ontario Power Authority (OPA). The local electrical companies will now screen the applications under the transmission and distribution availability tests; upon passing, the OPA will determine if our applications qualify for Feed-in-Tariff (FIT) contracts.
The 70 applications, submitted by our network of solar developers, are for commercial rooftops and considered Small FIT projects (500 KW AC or less). In total they represent 16.82 MW AC with an expected Capex of $75 million. If approved, the OPA will give the projects fixed purchase rates guaranteed for 20 years. We also plan to obtain economic interest in other solar developers' Small FIT projects receiving OPA contracts in this round of the FIT program.
In 2014, OPA will more than double the Small FIT annual procurement target to 150 MW and begin a procurement process for projects over 500 kW AC. Solar Flow-Through intends to take advantage of the growing opportunities in the province's solar power sector by leveraging its existing partnerships as well as developing working relationships with municipalities. This year, we are looking to conduct another round of financing with a second Flow Through Limited Partnership for up to $10 million.
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Battery Technology Advancements to Revolutionize Solar Polar
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Research & Development teams around the world are working with new materials such as vanadium or tweaking the lithium-ion battery to perfect large battery storage systems for renewable energy. State and municipal governments, including those in Canada, the U.S., Germany and China, are enacting legislation and offering incentives that will create more demand for solar and other renewable-based energy storage systems. The global market for storing power from solar panels is forecast to explode, from less than $200 million in 2012 to $19 billion by 2017.
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Japan Set to Become World's Largest Solar Revenue Market in 2013
Global PV suppliers have shifted interest away from Europe toward opportunities in Japan. Japan's solar installations jumped 270 percent in the first quarter of 2013, positioning the country to surpass Germany as the world's largest PV market in terms of revenue this year. The stellar growth is expected to continue throughout 2013 as demand for solar energy is forecast to double. Japan's share of global PV system revenue will rise to 24 percent in 2013 with a forecasted $20 billion worth of PV systems installations.
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An Innovative Way to Invest in Canada's Growing Solar Industry
Solar Flow-Through Limited Partners offers Canadian Accredited Investors an innovative vehicle for investing in Canada's burgeoning solar power industry. Based on the Flow-Through concept for mineral exploration, Solar Flow-Through Limited Partnerships provide the same income tax deduction benefits as those of mineral exploration in Canada. Please contact me directly or visit us at www.solarflowthrough.com
Matt Wayrynen President & CEO mattw@solarflowthrough.com
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