subject: Solar Panels For Homes In Ontario With The Microfit Program [print this page] In late March of 2012, Ontarios Ministry of Energy proposed new rates to be paid out to renewable energy investors. The pricing schedule on the OPAs Website, from April 5th, gives a glimpse of the rates investors of solar energy solutions might benefit from.
The OPA also posted a draft of the new microFIT program rules and a draft of a microFIT contract online to receive feedback from Ontario residents. The Solart team would like to remind homeowners that they have until April 27th, 2012 to share their opinion with the OPA. So, you may follow this link to give your comments about the drafts.
Equally, commercial investors and community leaders are also invited to comment on the drafts of the suggested FIT program rules and contract by clicking here.
The OPA is expected to release its final versions of the microFIT and FIT rules and contracts by May 7, 2012. Thus, this may be the last chance the public gets to have their say on these programs; specifically, on the potential rates solar investors can expect to receive.
The concern most of our clients are inquiring about is the anticipated reduction in tariffs. Even if the rates might be lower, the costs of solar technologies are diminishing to the point that the return-on-investment (ROI) will remain as high as before. Additionally, once a contract is sealed, it locks holders in for a fixed rate over a 20-year period regardless any changes made by the OPA thereafter. It is thereby better to apply to these programs earlier in their development phase to earn a better return-on-investment.
Businesses, homeowners, and community leaders who submitted their applications during the OPAs review will have them processed upon its completion in May. For the microFIT program, those who have contracts, hold conditional offers, or applied on or before August 31st, 2011 will not be affected by the current review by the government. However, for the FIT program, contract holders who have reached commercial operation or who have contracts that have not yet reached commercial operation will not be affected by the FIT review.
The microFIT program is geared at projects generating 10 kW or less of electricity making it an ideal investment for homeowners, small business owners, farmers, and managers of institutions such as schools. Conversely, the FIT program is designed for projects generating 10 kW or more of electricity aimed at developers and community groups.
The FIT and microFIT programs have made headway, since 2009, with favorable numbers behind them. According to the OPAs website, approximately 2,500 FIT contracts have been offered, and 11,000 microFIT projects have been connected to the grid or are expected to connect soon. There is no certainty that these programs will remain in the long haul, but they have certainly contributed to strengthening Ontarios economy, creating jobs, and reducing the provinces carbon footprint.
If you have any further questions regarding the OPAs review, please call me at 1.866.705.9151, ext. 5306. I will gladly take the time to clarify any confusing points brought to my attention.
About Solart Group
Solart Group (www.solartgroup.com) is one of the leading solar Engineering & Installation firms in Canada. Solart assists its residential and commercial clients in developing their solar projects by providing them with a 3D rendition of their project, as well as detailed financial analysis including a projection of future revenues, and customer service both during and after project completion.
Solart Group is focused on offering ongoing lucrative financial opportunities to investors and affordable solar technologies at all procurement touch-points. With proven experience in photovoltaic installations, Solart experts are ready to assist their clients in engineering, project management, and customer support with their green ventures.
