LONDON, ONT. — Sifton Properties’ West 5 development, a 70-acre multi-use community in London, Ont., has been selected as the demonstration site for the new community net metering model (CNM), a project to explore how a community can work together to generate renewable energy.
The project was recently unveiled by the Government of Ontario.
West 5, which will be the first to use this new model in Ontario, will see its residences, office space and retirement living integrate solar panels, solar parkades, electric vehicle chargers, green roofs and other innovative elements to help lower energy costs for residents and businesses, indicates a release.
Using the model, a community can generate its own electricity using renewable sources and send excess power to the grid for a credit on their electricity bill.
These credits could then be shared across multiple households and businesses in the community to reduce electricity bills when using power from the grid.
“Through the CNM program, London Hydro will develop innovative new tools and technology as well as gain valuable experience in installing and operating a microgrid,” said Vinay Sharma, CEO of London Hydro, in a statement.
“When completed, this project is expected to help avoid nearly 30 Mwh of energy usage annually while offsetting about 20 megatons of CO2 over a 10-year period. Thanks to the leadership of the Ontario government, the CNM initiative will prove to be a win-win-win business model for the environment, developer and utility.”