Ontario residents can benefit from a new government program which allows home and business owners to generate income from solar systems on their roofs or mounted in their yards. The program pays for 20 years, while the life of a solar system can be much longer – 30 years. Effectively, solar systems can act like a GIC, with fairly predictable income over its life, and a rate of return from 7 to 14%
Generate Power…and Money
Consider the benefits of generating green energy from renewable sources such as the sun, wind, water or bioenergy, and selling it for a guaranteed price. You can be part of Ontario’s growing green energy movement, make money and contribute to a cleaner environment.
If you are a homeowner, farmer or small business owner, you have the opportunity to develop a very small or “micro” renewable electricity generation project (10 kilowatts or less in size) on your property. Under the microFIT Program, you will be paid a guaranteed price for all the electricity your project produces for at least 20 years.
For an overview of the program, click here.
For a summary of what you should know and helpful checklists of questions you should ask when you are developing your microFIT project, click here.
Once you’ve selected your renewable energy technology and developed a project plan, signing up for the microFIT Program is straightforward. You apply online, there’s minimal paperwork – and there’s no application fee.
There are the key steps involved in participating in the microFIT Program:
Step 3: Recieve an offer to connect from your local Distribution Company
Step 4: Recieve a conditional Offer from the OPA (Ontario Power Authority)
Step 6: Accept your contract