Solar Investment Opportunities With The Ontario Feed-In-Tariff (MicroFit)

Solar Incentives
In Ontario, Canada, a green energy subsidy program was implemented by the Ontario government with the Ontario Power Authority (OPA) in order to promote the installation of solar energy projects. The program provides financial incentives to homeowners and businesses in Ontario to install solar energy systems. The Feed in Tariff (FIT) program not only gives homeowners and business an opportunity to generate income, it also helps meet Ontario’s growing power needs and create new jobs. Projects of 10 kilowatts fall into the FIT program, while projects over 10 kilowatts, such as residential installations, are covered by the microFIT program.

MicroFIT Incentives for Solar Homes
The MicroFIT program allows homeowners to get paid for generating renewable energy at home and sell it to the electricity grid.

The MicroFIT program is based on a 20-year contract with the OPA, which pays homeowners, farmers and small business owners 80.2¢ for every kilowatt-hour of solar electricity produced and feed into the grid. The local power distribution company pays homeowners either monthly or with each billing cycle.

Cost of a Solar Home with MicroFIT
The cost of a solar energy system depends on the size and specifications of the installation. However, a medium size residential solar energy system of 5 kilowatts costs between $17,000 to $25,000. Once the solar energy system is installed, your solar home could generate between $2,000 and $2,500 annually under the MicroFIT program.

Made in Ontario
In order to apply for the microFIT program, your solar energy system must be microFIT compliant, meaning the system has a 15% domestic content requirement. Check out the Conergy ON, microFIT compliant solar module and microFIT compliant solar energy mounting systems.