This project is inspiring because it was the first bulk purchase of solar panels in British Columbia. It was led by Cowichan area resident Peter Nix who, in 2014, organized with his friends and neighbours to purchase 720 solar panels at a 28% discount. At this discount, the annual return on investment for the purchasers is about 3%. Given BC’s relatively low electricity rates this is not huge but it is zero risk and yields more than a Canadian GIC and, as Hydro rates go up, the return will get better and better.
As a result of this project (and more that have followed) the Cowichan valley now has the highest rate of installed Solar Panels per capita in all of British Columbia