In 2022, Ontario had the lowest electricity rates in Canada. This was largely due to government-imposed tariffs and quotas that limited the amount of electricity that could be generated by companies in the province. The province’s energy sector was also heavily regulated, with one third of all power generation being controlled by the provincial government. However, this was largely due to Ontario being a pioneer in the green energy sector and the most populated province in Canada. As a result, more and more people are turning to solar power as an affordable and environmentally friendly option. There are a number of companies in Ontario that can help with the installation of solar panels. Here are some of the best options.
Sunrun is one of the world’s largest solar power providers. The company primarily operates in the United States but also offers services in Canada. The majority of its customers are residential but it also provides commercial services for businesses. With thousands of employees across the country, Sunrun is considered a major player in the solar industry. In 2021, Sunrun was valued at around $15 billion.
Founded in 2015 and headquartered in the United States, SolarCity Corp is a publicly traded company that provides solar energy and electricity services to residential and commercial customers. The company also owns and operates solar power plants. By owning their own generation assets, SolarCity is in a unique position to be able to provide customers with the most competitive rates. In 2019, SolarCity’s revenue was $5.9 billion. The company’s share price has more than doubled since then and it trades for around 10 times earnings.
Rio Tinto Renewables
Rio Tinto Renewables is an international renewable energy company which is headquartered in Canada. The company generates and distributes electricity and develops, constructs, owns, and operates power stations and power lines. Specifically, it focuses on providing energy for large corporate customers as well as government bodies and schools. As of March 2021, it employed more than 13,000 people and had revenues of $12.9 billion. The stock price of Rio Tinto Renewables has increased by over 100% since March 2021. It now trades around 16 times earnings.
Canaccord Genuity’s environmental focus is largely centered on sustainable buildings, responsible procurement, and renewable energy. The company generates, purchases, and distributes electricity and natural gas for commercial and residential customers in Canada. Canaccord Genuity was formed in 2015 through a merger between MPA Group and Genuity Corp. The merger created one of the largest alternative energy retail companies in North America. Since the start of this year, the company’s stock price has risen by over 30%. It now trades around 15 times earnings.
Energy Choice is a provider of electricity and natural gas contracts to residential and small business customers in Ontario. The company was founded in 1920 and is one of the province’s largest electricity suppliers. It also sells and installs solar power systems and is a major force in the green energy sector. In 2021, Enrgy Choice’s revenue was $11.4 billion. The stock price of Energy Choice more than doubled between 2020 and late 2021. It now trades around 12 times earnings.
Delta Electricity is another large electricity distributor that operates in Ontario. The company was initially founded in 1923 and provides electricity and natural gas supplies to residential, commercial, and industrial customers. Delta Electricity also owns and operates gas stations as well as a fuel oil business. In 2021, Delta Electricity’s revenue was $10.8 billion. The stock price of Delta Electricity has risen by more than 50% since the start of the year and now trades around 17 times earnings.
Founded in 1985 and headquartered in Canada, Source Energy provides electricity and natural gas supply and distribution services to residential, commercial, and industrial customers. In 2021, Source Energy’s revenue was C$12.2 billion. The company’s shares rose by over 30% in 2020 and now trade around 14 times earnings.
Founded in 2006 and headquartered in Canada, Next Energy provides electricity and natural gas supply and distribution services to residential, commercial, and industrial customers. In 2021, Next Energy’s revenue was $11.4 billion. The company’s shares rose by over 20% in 2020 and now trade around 13 times earnings.
Blackrock Energy is yet another company based in Ontario that supplies electricity and natural gas to residential, commercial, and industrial customers in the province. In April 2021, the company announced that they had reached a 15 year agreement with Nanticoke Energy to provide energy services to the first and third-largest cities in the province. The agreement is valued at $60 million and will provide energy services to nearly 100,000 homes and businesses across the region. As of March 2021, Blackrock Energy’s revenue was $11 billion and its shares rose by over 30% that year. Now, they trade around 12 times earnings.
Emerald Energy is an international mining and natural resources company that mostly operates in Canada but has also done business in Africa and Asia. In 2021, its revenue was $11.4 billion. The company is a major resource holding company, owning gold, diamonds, and other natural resources. It also has extensive mining operations, with projects located in Burkina Faso, South Africa, and Tanzania. While not directly involved in the generation of electricity, the company is a major investor in renewable energy companies, primarily in Canada. As a result, most people would consider it to be a good option for those seeking to invest in the renewable energy sector.
First Nations Power Corporation
First Nations Power Corporation is a First Nations owned and operated electricity retailer in Canada. The company primarily sells electricity to residential and small business customers but also provides services for large corporate customers. In 2021, the company generated $11.3 billion in revenue. The First Nations tribe that owns the company is the Halkomelem First Nation, located in northern Ontario. First Nations Power Corporation now has over 100,000 customers and operates 19 power plants in Ontario, Quebec, and New Brunswick. Most people would consider this option since it is owned and operated by an indigenous group.
Emerald Point Energy
Emerald Point Energy is another First Nations owned and operated electricity company that mostly operates in northern Ontario and provides services to residential and business customers. In 2021, the company’s revenue was $11.2 billion. The First Nations that own and operate Emerald Point Energy is the Egmont Saulteaux First Nation. Like many other First Nations-owned companies, Emerald Point Energy also has extensive mining operations, with projects located in Burkina Faso, South Africa, and Tanzania. The company is also a major investor in renewable energy companies, primarily in Canada. As a result, most people would consider this option since it is owned and operated by an indigenous group.
Fortis Renewables is a global renewable energy company which mostly operates in Canada, the United States, and Germany. It also has a large presence in the UK, where it was formerly known as E.ON Climate Solutions. Fortis Renewables provides a number of services, including the construction and operation of solar power plants as well as the purchase and installation of renewable energy systems, distribution of electricity, and compliance management and monitoring. It was founded in 1991 and is currently valued at around $15 billion. In April 2021, Fortis Renewables’ revenue was $11 billion. The company’s shares have more than doubled since then and now trade around 17 times earnings.
Dorado Solar’s S.E.C. registered name is Momentus Power Corporation. It is a leading solar power provider in the country and focuses on providing services to residential and small business customers. In 2021, the company had revenue of $11.2 billion. The equity crowdfunding platform that they use to raise funds is Seed Capital Inc. In January 2021, Dorado Solar was valued at around $16.5 billion. The stock price of Dorado Solar continues to rise and now trades around 15 times earnings.
Turbine Gas Solutions
Turbine Gas Solutions builds and operates wind turbines. The company was founded in 2000 and is headquartered in the UK. It mostly focuses on providing turbine service and repairs for large wind farms but also offers full turnkey solutions. As of March 2021, Turbine Gas Solutions had 9,000 employees and revenue of £4.3 billion (C$7.3 billion). The company’s shares were valued at over £13 billion (C$20.8 billion) as of March 2021. Since then, the shares have risen by 58% and now trade around 16 times earnings.