Homeowners in the province of Ontario, Canada, are being given the opportunity to join the microFIT program of the Ontario Power Authority.
Under microFIT, owners of small (10 KW or less) renewable-source electrical generators will be paid for the electricity they produce and deliver to the province’s electricity grid.
While many other electric utility companies offer similar plans, microFIT is the first we’ve heard of where the utility writes a contract guaranteeing a price over a 20-year term (40 years for waterpower projects), with the price being designed to cover the costs of the project and provide a reasonable rate of return on the homeowner’s investment over the term of the contract. Other utilities offer “net metering” plans, which may or may not adequately recover the costs of the generator project.
The microFIT program covers generators powered solar photovoltaic (PV), wind, water and bio-energy.
Read more at the Ontario Power Authority web site.