It's almost like Money Falling from the Sky

Really... it sounds almost too good to be true. As part of Ontario's Green Energy Act, Ontario Power Authority introduces financial incentives to encourage homeowners to generate solar power for the 'grid'.

Through the Feed-In Tariff (FIT), also known as Ontario's microFIT program, every kilowatt-hour that is produced from an approved roof-mounted 10kW system, generates 80.2 cents worth of revenue for the homeowner - guaranteed for 20 years. Compare that to the roughly 5-10 cents per kWh most Ontarians pay right now for electricity.

For example, a 10kW system for a sloped roof costs about $72, 000 installed, and can earn almost $10,000 per year. So it would pay for itself in just over 7 years, leaving more than a decade to profit from the guaranteed revenue.

Expect to begin the process with an assessment to determine if a home's sutable to make the system worthwhile - enough sunligh, good roof conditions, etc. It costs about $100 to $200. Most solar installation companies will also help complete the forms from government approval.

Once the system is installed, it's quiet and automatic. The power generated is sent directly to the grid. There are no batteries to maintain and the system does not affect existing hydro meter usage or billing. Seems all ther is to do is cash the cheques.

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Sherif Nathoo

Sherif Nathoo

Sales Representative
CENTURY 21 Leading Edge Realty Inc., Brokerage*
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