UPDATE: MicroFIT and FIT solar incentives program officially closed on December 1st, 2017. Stay tuned for further updates…
In 2009 the Province of Ontario introduced very lucrative financial incentives for solar energy called Feed-In-Tariff program or FIT/microFIT. If you chose to participate in the program and installed solar panels on you roof or piece of land, you could earn passive income while helping the environment. Click on the link below and watch the video to find out how it works:
Source: Ontario Power Authority
Homeowners, farmers and small business owners had an opportunity to develop a very small or “micro” renewable electricity generation project (10 kilowatts or less in size) on their property. Under the microFIT Program:
- they were (and are still) paid a guaranteed price for all the electricity the project produces for at least 20 years;
- they’ve helped replace coal-fired generation across the province and reduce greenhouse gases and other pollutants;
- they’ve helped to create new local businesses and green jobs in Ontario
MicroFIT program came to an end in December 2017, with more than 26,000 contracts awarded to participants representing over 230 MW of renewable energy.
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