RBC has launched a national program designed to help community organizations develop solar projects while creating a new source of long-term revenue.
The RBC Community Solar Program will purchase renewable energy certificates, or RECs, from participating projects under 10-year commitments. RBC says the predictable revenue can help make solar installations financially viable for organizations that might otherwise struggle to justify the upfront cost.
Participating organizations can lower their electricity costs through on-site generation and reinvest revenue from REC sales into their programs. RBC, meanwhile, will use the certificates to support its goal of reducing emissions associated with its own operations.
“We aim to strengthen communities across Canada and to lower our operational emissions by helping launch more locally sourced renewable power,” said Jon Douglas, head of climate operations at RBC. “By tapping into RBC’s deep community ties, financial expertise and commitment to renewable energy, we can empower local organizations and make a difference together.”
The program is launching with projects involving BUILD in Winnipeg and Holland College in Prince Edward Island. Together, the inaugural installations will provide 324.3 kilowatts of solar capacity—enough, based on RBC’s estimates, to power approximately 34 homes.
Solar Project Creates Training Opportunity in Winnipeg
BUILD is an Indigenous social enterprise, non-profit contractor and training program for people who face barriers to employment. Its work combines construction, renovation and maintenance services with hands-on preparation for long-term careers in the trades.
The organization’s 109.8-kilowatt solar installation is expected to generate electricity equivalent to the needs of approximately 12 homes. It will also give BUILD trainees practical experience working on a renewable energy project.
RBC Foundation provided additional capital funding for the installation.
“In true Winnipeg fashion, we are making every dollar do more than one job,” said BUILD executive director Sean Hogan. “The project will lower our operating costs, create training opportunities and generate additional value through the sale of RECs.”
Hogan said the savings and revenue can be reinvested in BUILD’s people and programming.
Holland College Adds Solar at Two Campuses
Holland College has joined the program with installations at its Prince of Wales Campus in Charlottetown and the Atlantic Police Academy in Summerside.
The two projects will add a combined 214.5 kilowatts of capacity, equivalent to the electricity needs of approximately 22 homes. RBC Foundation also provided capital funding to support the college’s installations.
Holland College offers career-focused education in skilled trades, applied sciences, technology and business. The solar projects complement its broader investment in modern and efficient campus infrastructure.
“These installations represent an important investment in campus infrastructure in Charlottetown and Summerside and will deliver long-term operational benefits for the College,” said Holland College president and CEO Natalie Mitton.
The initiative also gives RBC a way to support additional renewable generation despite the limitations of its own real estate portfolio. The bank leases most of the buildings it occupies, reducing its ability to install solar panels directly.
RBC has committed to sourcing 100 per cent of its global electricity from renewable energy, with an aim to support projects that add new clean power and deliver social benefits. The new program connects that operational target with community infrastructure, workforce training and funding for local organizations.