Ontario MicroFIT Made Easy
The first in our series on the Ontario microFIT program
The Ontario provincial government has made great thundering strides towards green energy with the advent of the FIT (feed in tariff) schemes. The microFIT program (intended for small businesses, organizations, farmers and homeowners) enables these eligible residents to recover their initial setup costs and make a sizable profit by providing clean energy to the Ontario power grid.
To encourage homeowners to invest in solar power systems, the Ontario Power Authority (OPA) ensures a guaranteed price per kilo-Watt-hour energy generated over a 20 year term. For a rooftop photovoltaic array rated under 10kW, the homeowner will earn $0.82/kWh while ground mounted units would net $0.58/kWh, keeping in mind the most you currently pay would be around $0.09/kWh. This not only helps the homeowner to recover costs quickly, but also ensures a significant return of 15% or more on their initial investment – annually! Each installation reduces carbon emissions and moves us closer to a green, renewable source of energy, which will eventually eliminate the need to spend taxpayer’s money on expensive power plants. Switching to solar also encourages the development of local business and creates jobs. Read part two…
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Contributing Author
Nikki Fotheringham has been a writer for over fifteen years. Read The Rest -
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