What is MicroFIT Program?
Invest in solar today and earn $4000+ annually for 20 years. In October 2009 the Ontario Government announced a Feed-In Tariff (FIT) Program to permit individuals, businesses, public institutions and community groups to produce clean energy locally and sell it back into the grid.
MicroFIT program allows homeowners to develop small-scale renewable electricity generation projects right on their properties (10 kilowatts or less), helping the environment while generating a profit for themselves. As the owner of a MicroFIT project, you will enter into contract with the Ontario government while getting paid at a guaranteed price over the 20-year term for all the electricity generated through their properties and supplied to the electricity grid.
That is, you will be paid a guaranteed price for every kWh of energy that your project produces during the 20 years. A separate meter will track that energy production and the income earned will be deposited into your bank account, usually bi-monthly. You can cancel the contract at any point or transfer it if you want to sell your property.
The rates paid to MicroFIT project owners are a premium over Ontario market rates. Each year the rates will be lowered for new applicants. Anyone that gets their application approved in that year gets a 20 year contract at that rate. Once you have a contract, the rate does not change for you. The annual rate changes are only applicable to new entrants to the program. Additionally, a new government can’t come in and change your contract.
What is Purchase Deal?
Customers invest in a solar energy system and collect 100% of the electrical revenue at a fixed rate by the government. Investment is backed by a 20-year government contract, which offers residents up to $4,000 annually or $ 80,000 over 20 years.
Top 5 reasons to choose Purchase Deal:
- 100% ownership of the entire system. All generated revenue goes to the owner.
- Guaranteed monthly solar income backed by the Ontario government, or up to $80,000 of hydro bill savings.
- Yalu Energy Inc. guarantees a min. 10% return on investment.
- 25-year + Warranties included on Solar Panels/ Racking System/Micro invertor and a 1-year workmanship.
- Social Benefits: Creates green jobs/stabilized energy prices/creates a better energy infrastructure.