When you think of investing in alternative energy, you know you are not only investing in your future but a better environment for our community and future generations to live in. Yet, when you invest in renewable energy in Fredericton and New Brunswick, you will not only see the benefits to your portfolio and the environment, but you will also see benefits for your community.
When you invest local with companies such as Naveco Power, you will not only generate more competitive returns through both the energy sold and saved, but you will be supporting clean energy products. These products will help to reduce the greenhouse gas emissions produced by other forms of energy, thus reducing their environmental impact in the entire province.
9 Benefits of Investing in Alternative Energy
When considering whether to invest in a renewable energy project in New Brunswick, you will most likely want to make sure that the investment is the right addition to your portfolio. Alternative energy projects are usually on differing scales, with each type of project providing its own benefits. As investors are turning their attention to their own cities in order to make a local impact, while continuing their wealth growth, they will often look at the benefits that come with community-scale energy projects.
At the community level, projects involve the use and promotion of renewable energy on a local scale. This may range from the installation of solar roofing on buildings and schools, to projects with local utility companies to reduce energy consumption. Some of the benefits that investors can enjoy from putting their money into local alternative energy projects include:
1. More Money to Use for Other Community Needs
Community-scale projects, such as the installation of solar roofing, will typically have a longer period before the return on investment will be apparent. But once the initial project has been paid for, then the community and investors can benefit from the amount of money that will be saved due to the reduction of energy use. This additional money can be used to fund other community-based needs such as recreation and community service projects.
2. Community-Scale Projects Have Less Regulatory Requirements
Most community-scale projects will not have the regulatory requirements that other clean energy investments may require. This can not only make them accessible to more investors but also allows for the project to be completed at a much swifter rate.
3. An Increased Human Capacity in the Community
Capacity building is a process, where community members will gain greater skills sets, training, and education, which will increase their capacity and aid in the growth of the community. With community-based local renewable energy projects, especially utility-based ones, the projects can help grow the human capacity of the community and keep them on the path moving forward with growth.
4. A Boost to the Community Economy
All renewable energy projects will require workers of varying levels of skills and expertise, as well as materials and supplies to complete the project. When you invest in a local renewable energy project, you will help put those investment dollars into growing your portfolio, but also directly into the community businesses and workers.
5. Reduced Energy Use
One of the most obvious benefits of investing locally in renewable energy projects is that it will reduce the overall energy use that your community consumes. This not only helps the community lessen its overall impact but can also benefit the members of the community, through lower utility bills when investing in a utility-based project.
6. A Reliable Local Energy Supply
Energy is a necessity to the function of every community. When investing in community-based energy projects, you will be providing that community with energy security, by ensuring that they have a reliable, local energy supply when they need it.
7. Better Education for the Community
Local renewable energy projects can provide for better education for community members and their children in a number of ways. First, the project will often require worker training and education on renewable energy and the requirements of the project. These projects can also provide for better education in a secondary way by improving the economy of the area which can lead to higher tax dollars for local schools who can use the money to offer their students better education opportunities.
8. Community Support
Many community-based investments and opportunities can thrive or fail based on the support they receive from the community. Investments, such as renewable, clean energy, have strong support among more community members who are looking for a better future and environment for coming generations. You will also find support behind projects that can help reduce costs in the community such as through utility use where they can then use the additional savings for other necessities.
9. Tax Savings Through RRSP Contributions or Small Investor Tax Credits
Investing in local renewable energy projects can also provide you with tax savings that can help you keep your money growing. Private investors can be eligible for up to 50% in tax credits, and trusts and corporations can receive up to 15%. You can also receive tax savings potential up to 85% through directing your investment into your self-directed RRSP. Like any contribution or growth of your RRSP, you will not be required to pay taxes immediately on your money. This money will stay tax-deferred until you begin to draw. This means that you can keep reinvesting your earnings and grow your wealth faster to achieve your desired retirement goals.
Begin Your Alternative Energy Investment Today
If you are looking for investment opportunities in New Brunswick / Fredericton, Naveco Power knows how to provide you with the opportunities you are looking for to help you invest in your local communities renewable energy projects. They can help you reduce your taxes and find the projects that best speak to your portfolio and your social and environmental goals. At Naveco Power they have made it their mission to provide investors with opportunities to take part in benefiting the economy and the environment of the New Brunswick area. They can provide you with the projects to grow your investment and inspire economic, environmental, and social change.