Now small-scale (10kW or less, such as might be installed a residential rooftops) will receive C$0.802/kWh, up from the original C$0.40/kWh for the electricity delivered to the grid. See the Ontario Feed-In Tariff Program Backgrounder for details.
Allegedly there were over 2,000 applications for such projects, with approximately 700 approved as of Dec. 2009. And over 1,000 larger scale applications. How many actually deliver power, let alone payback and profit, remains to be seen.
I wonder if the recent announcement of the $7B Samsung/Korea Electric renewable energy deal is a result of the recent increases to the feed-in-tariffs? The folks at Green Energy Act Alliance seem to think so….
All this activity is supposed to create 50,000 Ontario jobs, since the projects must meet certain “made in Ontario” requirements.
Bold move by the McGuinty Liberals, or a costly mistake? Will we look back at 2009 as the year renewables finally started to make economic sense? Only time will tell…
Expected opposition is “But it’s going to add $1.60/year to my electricity bill”, proving once again that if it costs anything extra, some will oppose it.
