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For example, under the MicroFIT (projects under 10 kilowatts) the OPA is paying 80.2 cents for each Kilowatt-Hour of electricity exported to the grid. You can generate about $1000 per year per Kilowatt capacity in payments through this program. This is a rate of return of over 10 percent - much better than you can make on Guaranteed Investment Certificates (GICs). Property value is increased because your contract with the OPA can be taken over by a new owner. You can also offset tax on your income by depreciating your system.
All Your Solar Answers in One Place
Solar Energy
A solar electric system converts energy from sunlight to alternating-current electricity exactly like the electricity provided by your electric utility company. This electricity is fed into the electrical grid through a separate meter. The system puts energy into the utility grid for you and others to use. The payment you receive for electricity generated is several times greater than what you pay the utility company for electricity.
A solar electric system consists of solar panels, optimally mounted on a south-facing rooftop, These panels convert sunlight into electricity. After hook-up by a licenced master electrician, and inspection by the Electrical Safety Authority the system is connected to the grid. Your system will last at least 20 years, probably as much 40 years. There are no moving parts to wear out. The size of the system installed depends on a number of factors -- the size of the rooftop, the style of roof, and the orientation to the sun (directly South or Southwest is best). Systems under 10 kilowatts can be installed under theMicroFIT program. Larger systems are installed under the FIT program. As a rule of thumb, for MicroFIT installations: a 2.3 kilowatt system requires 10 solar panels or about 200 square feet of space. A 10 kilowatt system requires 40 solar panels, about 800 square feet. Ideally, your building has a south-facing rooftop, not shaded by other buildings or trees. Your roofing must be in good condition. If it's not, re-roofing should be done first. Costs for systems vary, depending on size and difficulty of the installation. But you can expect to pay between $8,000 and $10,000 per Kilowatt of installed capacity. That will give you a return from sale of electricity of about $1000 per year per Kilowatt.
Click to learn more about these programs from their own websites
Additionally you will:
Installation of a Grid-tie solar system on your home, farm or business will generate revenue at a higher rate than most other investments.
Solar Systems Installed for the specific purposes of producing electrical power for the power grid. In Ontario, the Ontario Power Authority (OPA) offers two programs under which grid-tie systems can be installed. These two programs are the OPA FIT Program, for systems over 10 kw; and the OPA MicroFIT Program for systems under 10 kw.
Your Grid-tie system can have have a number of benefits, for you and for the environment. First, you can make money selling that power to the OPA.
The Electrical Safety Authority (ESA) has produced an excellent guideline for persons seriously considering a MicroFIT installation. It is available as a .pdf file from their site.
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