FIT (Feed-In Tariff) Program
The Hydro Company will send you a Cheque for the Power you Produce!
If you saw this headline on a supermarket tabloid, you probably wouldn’t give it a second glance, but it’s true.
The Ontario government has created the Feed-In Tariff (also called FIT), a government-guaranteed program that will pay you to install a solar array that feeds electric power to the grid.
Why? To reduce Ontario’s dependence on fossil fuels and to combat global warming.
How? By developing solar generating capacity that produces power from 100,000 rooftops.
An opportunity to provide long-term income for yourself and energy security for Ontario is rare. FIT does both and you should strongly consider taking part—for your financial future, for Ontario, and for the planet.
The basics are simple. Click the links for even more information and contact us to answer all your questions.
MicroFIT
MicroFIT refers to the smaller sized solar installations; under 10 kilowatts. This is usually under 800 square feet of solar panels on your roof, wall or on a ground mounted system. Most residential, agricultural and commerical solar systems fall under the MicroFIT designation.
The Deal
The Ontario Power Authority will pay you upto 54.9¢ per kilowatt-hour for the power produced by a roof-mounted solar array every year for the next 20 years.
What’s a watt, kilowatt, kilowatt hour?
This is a very good deal since you presently pay about 10¢ per kilowatt-hour for the power you use. FIT is not about using the power you produce in your own home because it does not make sense to use expensive 80¢ power when you can buy it cheaply for 10¢. You can go off the grid with your own solar production if you want, but it is much more cost effective to use the FIT program as a reliable source of long-term income.
FIT is about investing in your own solar power production to earn a steady income stream for the next 20 years.
Financial Benefits
- Low Risk: Solar panels are guaranteed for a 25 year period – some are guaranteed for longer than the length of the microFIT contract
- Low Risk: Government-guaranteed rate for 20 years
- High Returns: In every case, the FIT outperforms the national average 5-year GIC rate
Peace of Mind
- You have a stable, guaranteed income stream
- You are providing long-term energy security for yourself and Ontario
- You are joining thousands of others to help reduce climate change
- We look after all the paperwork
Five Steps to Becoming Your Own Solar Producer
Step 1 – Come in for a chat.
Our expert sales, design and engineering team will show you a number of system options using our working displays. Yes, we have a microFIT system running at our showroom. We will walk you through the process of choosing the right system to meet your needs and we can give you a preliminary quote. We will also work with you to seek available financing, if required.
Step 2 – We visit your site and provide you with a System Design Package.
The system design process is a critical step for you when you are considering an investment of the MicroFIT scale. Proper design is a comprehensive process that begins with a customized site inspection to collect specific information and shading data. With our 30 to 40 page system design package, our design team provides you with a comprehensive report and consulation detailing the expected output and income potential from your solar system over the 20 year MicroFIT contract period. Ultimately, the system design package will give you the information that you need to make an informed decision.
Step 3 – Apply for government permits and program applications.
Once you have approved the final system design and system cost, we will ask for a 5% placeholder deposit. This will allow us to navigate all of the government incentives, permits, and program applications for you so that you start selling your electricity as quickly as possible. Because the demand for this program is very high, we think it wise to get into the queue as early as possible to avoid program delays and equipment backorders.
Step 4 – Installation.
Once this process has begun, we will order equipment and schedule installation dates with you. You can space your payments as follows: 30% prior to ordering equipment, 30% prior to installation, and the remaining balance due upon system completion. Our certified installers and electricians will come to your home or business and install the systems in accordance with the most current code requirements. We will also instruct you on the use and maintenance of your solar system.
Step 5 – Completion.
Once the Electrical Safety Authority has signed off on final inspection of your installed system, we will file a declaration of commercial operation with the Ontario Power Authority who will notify the Hydro Authority to begin payments to you.
Congratulations! You are now a solar power producer with a guaranteed income stream.
Renewable Energy of Plum Hollow specializes in solar grid connections to take advantage of FIT, and you can easily become part of this growing energy sector in Ontario. Please feel free to contact us to make an appointment to discuss FIT and to answer all your questions.
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