Unleashing Local Capital In Greening Alberta’s Grid: An Evaluation Of A Co-operative Investment Model To Stimulate Renewable Energy Development In Support Of Alberta’s Climate Leadership

Abstract

Never before has a co-operative business model been attempted in Alberta in stimulating community economic development using renewable electricity generation and local capital. Given Alberta’s depressed power prices and economy, and the political challenges of an energy transition, the success of a renewable energy investment co-operative is unknown. The Alberta Solar Co-op (ASC) was incorporated as an Opportunity Development Co-operative in February, 2016, to provide Albertans direct investment opportunities in Alberta’s renewable energy future. The co-op model is well suited for sustainable development, including electricity. While many jurisdictions world-wide have demonstrated this, Alberta lags. The ASC is developing Alberta’s first community owned, 2-megawatt solar farm. This study finds that government support in the form of a $2 million grant and an energy credit approximating $90/megawatt-hour may provide member-investors a positive financial return on their investment – and provincial and municipal governments, a social, economic, and environmental return on theirs.