The part that harms that domain is the triple eee
Spelled FreeEnergy.ca it looks great, but as soon as you put it in the address bar it becomes freeenergy.ca and in my opinion makes it take a hit.
Nobody makes money on Free so chances are you are not going to get a ton of money for it so your instinct of $500 would be correct.
All that said if someone sells a device that makes energy, and he makes money selling that device, then the domain could have a higher value to the end user.
It's always a gamble but if it were mine I would stand firm at $500 and see where it goes.
