Solar microFIT and your home - Thinking about the microFIT program? Does it still make sense at the new lowered rates?
Thinking about the microFIT program? Does it still make sense at the new lowered rates?
Effective January 2014, the Ontario microFIT has changed its price schedule for the microFIT program. For 10kW and under, the new rate for a roof mount is 39.6 Cents per kWh and 29.1 Cents per kWh produced by your solar system. This is down from 80.2 Cents per kWh when the program first launched. Don't let these numbers scare you if you are considering solar. Along with the payout decrease, the material costs have dropped as well. With all this being said, we are still seeing rates of return in the 12% range. In my opinion, It Absolutely makes sense to install a microFIT solar system if you meet all the requirements.