The term renewable energy seems to be popping up more and more lately, especially right here in New Brunswick. However, the use of renewable resources is not an entirely new concept. There are many examples of renewable energy projects in the province, with many more to come in the future.
How New Brunswick Uses Renewable Energy Resources:
- Looking at renewable resources in the form of wind, the province's first wind farm was completed in 2009. Caribou Wind Park has 33 turbines and has a 99-megawatt capacity. That's enough to power as many as 19,000 NB homes.
- On the solar side of renewable energy, the largest solar panel installation now sits on top of Fredericton High School. The panels from this pilot project are 100 kilowatts, and were installed to see how well solar power works in New Brunswick's climate.
- In December of 2016, the Government of New Brunswick released its climate action plan. In "Transitioning to a Low-Carbon Economy," they committed to achieving a level of 40% of electrical consumption to be sourced from renewable sources by 2020. *
- In 2016, NB Power surpassed this target, hitting 42%. However, this was due mainly to a significant portion of that renewable energy purchased from non-New Brunswick companies such as Hydro-Québec and the United States. Instead of the province directly reaping the rewards of a made in New Brunswick solution.
At Naveco, we strive to be the leader in creating a legacy of clean energy investment projects which inspire societal, environmental, and economic change. Projects that we develop are 100% local! This keeps investments here at home, while also earning the investor a positive return on investments. Your investments will help finance clean energy projects that measurably reduce harmful greenhouse gas emissions in our province. This benefits New Brunswick both economically and environmentally.
Currently, Naveco is working on an energy efficicent building retrofit. Not only can you receive a 50% tax credit on your investment through the Small Business Investor Tax Credit (SBITC,) we're now RRSP eligible as well!
Reduce your taxes while investing locally!
Find out more here!