Renewable Energy Feasibility Study Consultants

renewable energy feasibility study Canada consultantA typical renewable energy feasibility study in Canada, depending on scope (under $10,000,000 estimated), can cost between $75,000 and $250,000. This represents a major investment in your project’s future success. The price tag might look substantial, but these complete studies give an explanation that determines your renewable energy project’s viability, profitability, and long-term sustainability.

Feasibility First has identified three core components that help a renewable energy feasibility study to work: Engineering, Business Case, and Communication and Collaboration. The engineering assessment looks at technical viability, while business case development ensures financial sustainability. The emphasis on stakeholder involvement sets apart successful renewable energy feasibility studies in Canada. Feasibility First specifically recognizes that communication and collaboration are the foundations of any project’s success. We built our approach on mutual respect, fairness, and open communication.

Experience matters deeply in choosing a renewable energy feasibility study consultant. Feasibility First has brought together a highly experienced team to handle each assessment. Your project receives expert attention in every aspect. Below, we explore the complete scope of one of our renewable energy feasibility studies. While your case may be different, we wanted to demonstrate our methodology to you. Our process covers technical engineering considerations, financial modeling, risk assessment, and stakeholder involvement strategies that can take your renewable energy concept into a viable project. 

Call us at (403) 991-8863 to discuss your project.

 

Engineering Scope in Renewable Energy Feasibility Studies

A technical foundation for any renewable energy feasibility study starts with engineering assessment. The engineering team looks at several technical aspects to make sure we can build the project safely and efficiently while meeting all standards.

Facility Location and Site Access Planning

The first step is getting a complete picture of the physical and geographical features of your site. We suggest evaluating site viability early on, before you design systems or buy equipment. Our team, for example, needs to look at solar exposure, wind speeds, geological, and environmental effects. Solar installations work best with southern exposure and minimal shade. Wind projects need a detailed look at local wind patterns. You also need to check how construction equipment can reach the site. Remote locations often cost more due to access challenges.

Technology Suitability Confirmation for Selected Energy Type

The right renewable technology should match your site conditions and technical needs. You’ll need to compare available options based on your project requirements. Wind projects require turbine suitability checks to get manufacturer warranties and reach expected lifespans. Solar projects need careful selection of panel types, mounting systems, and performance factors that work with local conditions. The assessment process has five key areas: energy policy, institutions and markets, resources and technologies, business models, and capacity needs.

Power System Connection and Grid Integration Requirements

Grid connection stands out as a key technical challenge that needs careful analysis. Studies show whether enough reserves and system resources exist, or what extra measures you’ll need. Your project must meet grid compatibility standards, power quality requirements, and voltage regulation needs. These rules change based on penetration levels but must follow basic compliance standards for any grid.

Balance of Plant (BOP) Mechanical and Electrical Needs

BOP has all supporting components beyond the main generating unit:

  • Power conditioning equipment (inverters, transformers)
  • Safety features (disconnects, grounding equipment, surge protection)
  • Monitoring systems and instrumentation
  • Storage systems where applicable

These systems help manage power distribution, thermal regulation, and site infrastructure for reliable operation.

High-Level Project Flow Diagram and Equipment Cost Estimate

Your cost estimates should cover all expenses for design, procurement, and construction. Delays, design changes, site conditions, and regulatory issues can affect your budget. Equipment costs change with technological advances, economies of scale, and procurement strategies. Canadian projects see regional cost differences mainly due to installation costs, especially labor, and soft costs like transportation and taxes.

Business Case Development and Financial Modeling

Financial viability decides if a renewable energy project moves past the planning stage. A resilient business case combines market insight, cost analysis, and financial projections that establish project sustainability.

Market Analysis for Renewable Energy in Canada

Canada stands 9th globally for installed wind energy capacity (17+ GW), 20th for battery storage (1 GW), and 24th for utility-scale solar capacity (2.3 GW). The Canadian market shows substantial growth with current procurement chances totaling 600 MW of solar, 2.8 GW of wind, and 3.4 GW of storage. The renewable sector presents a total investment chance of CAD 199.25B to CAD 285.64B between 2025 and 2035. This creates about 250,000 to 350,000 direct and indirect full-time equivalent job-years. Solar PV’s electricity costs have dropped by 82% since 2010, making it one of the cheapest sources of new electricity among onshore wind.

Capital and Operating Cost Breakdown

Renewable energy projects need substantial upfront investment before they generate revenue. Capital costs include equipment purchases, site preparation, and installation. Operating expenses include maintenance, insurance, and administrative costs. Solar projects’ overnight capital costs show meaningful declines in jurisdictions of all sizes through the medium-term (2025-2035). These costs stabilize or slightly increase through 2050. Onshore wind remains the most economical source of new renewable electricity at USD 0.034/kWh, with solar PV following at USD 0.043/kWh (subject to change).

Cash Flow Modeling and S-Curve Projections

S-curve analysis gets into technology adoption patterns that show slow original improvement, accelerated adoption, and diminishing returns. Economical cash flow models include:

  • Project revenues (typically power purchase agreements)
  • Operating expenses and maintenance costs
  • Debt service coverage ratio (DSCR) calculations
  • Internal rate of return (IRR) and net present value (NPV) metrics

Cash flow forecasts determine if the project will generate positive returns and reach financial targets.

Tax, Depreciation, and Profit & Loss Forecasting

Canadian tax incentives may boost renewable energy economics depending on your province. The Modified Accelerated Cost Recovery System (MACRS) allows a five-year depreciation schedule for qualifying solar equipment. Classes 43.1 and 43.2 in the Canadian Income Tax Regulations permit accelerated capital cost allowance at rates of 30% and 50% respectively (subject to change) on a declining balance basis. The enhanced allowance introduced in 2018 lets businesses investing in solar save up to 26.5% in tax payments during the first year. This reduces the system cost by that percentage after year one.

Risk Assessment in Renewable Energy Feasibility

Risk management plays a vital role in determining if renewable energy projects will work. Project developers must spot obstacles early to create strategies that prevent problems before they occur.

Technical Risk Evaluation for Selected Technology

Equipment reliability, performance issues, and integration challenges create technical risks. Loss of load expectation (LOLE) helps predict power supply shortages, while expected unserved energy (EUE) measures energy losses from outages. Hail damage remains the biggest threat to solar panel failure. Teams should use failure mode and effects analysis to find weak points and understand what they mean.

Market and Regulatory Risk Analysis

Government actions create regulatory risks through policy changes, contract breaches, and unfair legal protection. These actions can slow down foreign investments and delay energy transition projects. The renewable sector faces unique challenges because it needs large upfront investments and long-term contracts. The renewable energy sector accounts for 10% of all investor-state disputes worldwide. Most disputes happen because regulations change suddenly and hurt investments.

Geological Risk in Geothermal Feasibility Studies

Geothermal projects must deal with unknown underground conditions. Reservoir temperature and green productivity determine if a project makes economic sense. A complete risk assessment tool looks at geological, technical, environmental, social, economic, and political risks. Project teams need to identify risks, score them properly, and decide what levels they can accept.

Financing and Human Resource Risk Considerations

Market price changes, reduced subsidies, and currency value shifts create financing risks. Projects take 3-12 years to pay back investments based on their size. This creates cash flow challenges. The renewable sector struggles to find talent because of tough competition. Companies need smart ways to develop talent because they lack experienced managers.

Stakeholder Engagement and Indigenous Collaboration

Renewable energy feasibility studies succeed when they encourage stakeholder engagement and indigenous collaboration. Early stakeholder involvement prevents delays and opposition as projects develop.

Single Point of Contact Communication Model

The Single Point of Contact (SPOC) model streamlines communication and coordination for renewable energy projects. This approach creates a central communication channel that connects clients with complete assessments to identify opportunities for energy efficiency, water conservation, and renewable energy. Companies can achieve better synchronization between project components by using one engineering firm for all services. This setup reduces redundancies and provides a single contact point that makes coordination easier.

Respecting Indigenous Values and Traditional Knowledge

Indigenous communities have preserved centuries of knowledge about sustaining natural resources through a multi-generational approach. Their spiritual connection to land encourages responsibility and stewardship toward the Earth. Canada and British Columbia have made commitments to work with First Nations. These commitments advance clean fuels projects and speed up regulatory processes while following the United Nations Declaration on the Rights of Indigenous Peoples Act.

Balancing Local Knowledge with Engineering Expertise

Strong partnerships emerge when technical expertise combines with community-led decision making. This collaborative effort needs respect for intellectual property rights and cultural sensitivity. Communities should participate in the complete development cycle—from visioning workshops to implementation. The combination of indigenous knowledge and technical solutions creates more eco-friendly, equitable, and culturally appropriate renewable energy projects.

Final Notes:

Renewable energy feasibility studies are a most important and worthwhile investment that ensures your project’s long-term success. These complete assessments blend technical analysis, financial modeling, and stakeholder involvement to turn concepts into viable renewable energy projects.

Technical evaluation forms the foundation of engineering assessment. The team analyzes site suitability, technology selection, grid integration requirements, and balance of plant components. Projects can get pricey or fail during implementation without a full technical review. The business case development determines financial sustainability through market analysis, cost breakdowns, and cash flow projections. Solar and wind have become increasingly competitive power sources in Canada’s renewable energy market as costs continue to decrease.

Risk management plays a vital role throughout the feasibility process. Your team can develop working mitigation strategies by spotting potential technical failures, regulatory changes, financing challenges, and human resource limitations before they affect your project. Early risk assessment saves time and resources during development and implementation.

Successful renewable energy projects in Canada stand out through effective communication and collaboration. A single point of contact makes coordination easier. Respecting Indigenous values and traditional knowledge leads to more eco-friendly and equitable solutions. This balance between technical expertise and community involvement builds mutual respect and open communication.

When choosing a renewable energy feasibility study consultant, experience matters in every aspect of the assessment. We at Feasibility First offer specialized knowledge to review engineering requirements, create strong business cases, assess potential risks, and aid meaningful stakeholder involvement. Their expertise helps you make informed decisions about renewable energy investments that maximize your chances of developing successful, profitable, and eco-friendly projects benefiting both your organization and the communities it serves.