I’m starting to think we should give up on this “green jobs” malarkey and turn it all over to the Canadians, who at least have workable ideas on the subject:
Imagine a low-risk bond with a return of 5 percent. Now imagine that bond supporting the development of local solar projects. That’s what TREC Renewable Energy Cooperative did when it created SolarShare Community bonds.
The return rates of the $1,000 (Canadian) bonds are made possible because of Ontario’s feed-in tariff (FiT). The FiT has created a low-risk environment, which means higher payments for photovoltaics and equipment made in the province.
“When you secure a feed-in tariff, it’s a 20-year power-purchase agreement,” said TREC spokesperson Rebecca Black [no, not that Rebecca Black].
The future of the FiT might have been in doubt until last week: provincial elections were being held in Ontario, and the Progressive Conservative party had promised to repeal it if they gained a majority. They failed to do so.
In other news, there’s a Canadian political party called the Progressive Conservatives. Wonder if they’ll take Mitt Romney off our hands?