Economics of a Micro PV sys. With Ontario's groundbreaking new Feed-In Tariff (FIT) program, there has been a sudden rush of interest to add these systems. This is a truly groundbreaking program that has put Ontario squarely in the lead of North America for renewable energy. Our provincial government are to be congratulated! Unfortunately, I'm already seeing some solar vendors quoting wildly optimistic figures as to what you can earn on these systems.
I am a strong solar advocate with a 5.7kW system on my Toronto home and a small system (25 years old and working perfectly) at my off-grid cottage, so don't get me wrong, I do love solar. I feel compelled, however, to have the real facts honestly presented to homeowners so that they make an informed decision. Will a solar PV system give you a 5 year payback? In purchasing your own solar system you are achieving these important results: * Adding to our energy security and stability of the electrical grid by adding a long term form of local generation. Ministry of Energy » FIT and microFIT Program. Ontario’s Feed-in Tariff (FIT) was launched in 2009 to encourage the development of renewable energy technology, attract investment and create new clean energy jobs in Ontario. The program is helping Ontario meet its goals for improving air quality and phasing out coal-fired generation by the end of 2014.
In 2012, the government released the FIT Two-Year Review Report and announced forthcoming changes to the FIT program. The review allowed us to take stock and strengthen the program to ensure its continued success. The Ontario Power Authority (OPA) is now implementing these changes for both the FIT and microFIT programs.
Ontario remains committed to building a clean, modern and reliable electricity system and continues to encourage innovative opportunities for efficient generation projects. For detailed information on Ontario’s FIT and microFIT programs, please visit the Ontario Power Authority’s FIT and microFIT websites or call 1-888-387-3403. FIT program microFIT program. Tax - Ontario's FIT/microFIT Programs. The Ontario Power Authority (the "OPA") has developed a Feed-In Tariff (the "FIT") Program for the Province of Ontario to encourage and promote greater use of renewable energy sources, including wind, waterpower, renewable biomass, bio-gas, landfill gas and solar photovoltaic ("solar pv"), for electricity generating projects in Ontario.
The microFIT Program is a stream of the FIT Program and allows for the participation in "micro" renewable energy projects (10 kW or less). Participants in either the FIT or microFIT Program will include individuals, proprietorships, partnerships and corporations that meet the eligibility requirements described under each Program (the "Participant"). Details of each Program are available at The Ontario Power Authority Feed-in Tariff Program.
A Participant in these Programs will have income tax consequences, as discussed below. All CRA publications referred to in the questions below are available on the CRA web site in the Forms and publications section. MicroFIT Program.