Canada’s Nova Scotia gets residential solar PV investment fund

Canada-based Nova Solar Capital has launched a solar community economic development investment fund to finance the installation of solar power systems in more than 100 homes in Nova Scotia. According to the company’s funding model, homeowners can finance the installation through their retirement funds and receive tax benefits on it. The lease rate will be 3.5 per cent fixed for 10 years. At the end of the lease term, homeowners can buy the system for $50 and continue to generate free electricity for the remaining life of the system. The financing programme is available for three standard solar panel packages – $16,500 for the 4.48 kW system, $30,000 for the 8.96 kW system and $44,000 for the 13.44 kW system.