Frequently asked questions

Naveco Power INC

What do we do?

We develop clean energy projects which benefit our economy and environment while keeping investments local and profitable.

What types of projects will Naveco implement?

Our team does New Brunswick based renewable energy projects (Retrofits, Solar, Wind) ranging from small commercial scale (1 MW or less) to utility scale (20 MW+).

Can I receive a tax credit on my investment?

Yes, accredited investors are eligible for a 50% tax credit, and corporations and trusts can receive up to 15%. You can also further mitigate your taxes through an RRSP.

Can I invest with my RRSP?

Yes. Naveco Power is RRSP eligible! You can make an investment with new contributions, or make your current RRSP go further without adding new money. 

82 Westmorland Street Retrofit

What is a retrofit?

The term ‘retrofit’ means to add a component or accessory to something (in our case a building) that did not have it when originally manufactured (e.g., LED lighting, ventilation, cooling system).

How does a retrofit take place?

Naveco Power Inc. will work with local contractors to install and monitor the retrofitting process.

How will a retrofit impact the building energy bill and consumption?

The retrofit will reduce CO2 emissions by 30% and cut energy consumption in half. By retrofitting, 175 tonnes (equivalent to 37 cars off the road) of CO2 will be reduced.

How does a retrofit impact the value of a building?

The retrofit will increase the market value of the Westmorland Place building.

WIND FARMS

How noisy is a turbine?

It is approximately 60 (dBA) meaning you could easily have a conversation with a friend at the base of a windmill.

Will a wind farm decrease my property value?

Unlikely. Studies have shown that property values within a wind farm viewshed rose more quickly than in comparable communities outside of the viewshed.

Will the turbine affect birds?

Bird mortality due to wind turbines is very rare.

What is the setback distance?

The setback distance will be set by municipal bylaw ensuring that noise does not exceed 40 (dBA), allowing people to get a restful night sleep.

What is the lifespan of a turbine?

The turbines being installed will have a lifespan of 20-30 years and will be properly maintained by the manufacturer who will hire and train locals.

Will the turbines and construction affect wildlife?

Strict Environmental Impact Assessments are performed in all areas before, during and after construction of such wind farms.

soLAR ENERGY

How do solar panels actually work?

Solar energy is the energy that is generated from the sun’s rays. This all becomes possible thanks to an effect called the photovoltaic effect. In order to create this solar energy, we do need an energy generator; a solar panel. These solar panels can be mounted on your roofs or ground-mounted in an empty space of land by using renewable energy, you will be able to lower your electricity bill.

Is solar energy reliable and powerful enough for my business?

Yes! The sun is constant. It is more predictable and reliable than power plants which might experience outages. The only time the sun does not produce electricity is at night. This when your business can stay connected to the Grid or get Battery Storage.

Will my solar panels generate electricity during cloudy, rainy, or snowy days?

Solar panels work just fine. Even in low light or foggy conditions, the panels are able to capture the sun’s energy. However, the capacity will be slightly lower.

Do I have to go off the grid when I switch to solar energy?

​​​​In reality, you probably won’t want to go off grid. The practice is known as “islanding”, or when you connect your solar array to batteries, so you’ll be able to power your business entirely on solar energy instead of using the utility company for power.  The thing is, sometimes it is not the best financial decision for your business.

Each Solar PV System is different for businesses since they have different needs.

What is net metering?

Your business has an electricity meter that records how much energy your business uses every month. When you switch to solar the meter will not only tell you how much energy you consumed from the grid, but it will also tell you how much you are generating from your solar panels. This also means that if you over produce energy you are able to sell it to the grid and get credits on your next electricity bill! (This depends on your business location.)

How will switching to solar help me better budget for my business?

Every year electricity prices hike and you don’t have any control over it. By going solar, you reduce your operational cost which means your business will have a fix cost of electricity which means that you will know how much you will be paying for the term of your lease and will be able to allocate the money saved in another part of your business.

Will installing solar panels damage my roof?

The first thing you need to consider is how old is your roof and the condition of it. If everything is in good condition before installing the panels, you can consider different ways to install the panels in your roof such as ballasted or penetrating. If anything, the solar panels can actually protect your roof!

Will solar panels raise my business's property value?

Yes, have an energy efficient home will increase your property value.

How does solar energy benefit the environment?

Solar is a renewable energy resource! The sun is always available which means we don’t have to dig for coal or refine other toxic energy sources to keep the lights on! This means less CO2 for our planet!

Battery Energy Storage System (BESS)

HoW does BESS work?

It works like the battery on your phone! It stores the energy produced by your solar panels and storing it for later use which means you will be only sending energy to the grid when your battery is fully charged. You can also use battery storage without solar panels.

When should I add battery storage to my business or Solar PV System?

You should consider battery storage if any of these two situations are happening in your business. The first one if you are located in a place where there are many outages where you will need emergency backup. The second one, if you are a business that runs 24 hours a day you should consider battery for the financial benefits that it could bring to your business.

What are the benefits for battery storage?

Batteries do not only give environmental benefits, but it reduces your demand charge which your business is subject to. It can also serve as an emergency backup for your business and to avoid consequences on your business when there are outages.

Do batteries need to be maintained?

Yes, they need to be checked and maintained constantly.

Didn't find the answer you were looking for? Contact Us!

Address:

320 Queen Street, #100, Fredericton, New Brunswick, E3B1B2, Canada

Phone:

506-804-1080

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