The IESO Contract has guaranteed this rate for a period of 20 years. MicroFIT solar power systems will add to your home’s property value and can easily be transferred to future home owners in the event of a sale.
Ontario’s MicroFit program is a substantial financial incentive for residential property owners.
Solar energy is transferred to the power grid at the current rate of $0.288/kWh from your MicroFIT system.
The majority of Ontario residents are currently paying between 18 to 25 cents per kWh for electricity.
Presently, through the Ontario renewable energy MicroFIT program, Ontario home owners have the option of installing solar PV panels on their property and selling all of the energy generated back to the public utility company for a premium rate over the course of the next 20 years. In essence, this program allows you to become a small scale producer of clean power for a guaranteed rate of return.
The rate is reviewed annually on January 1st, currently it is $0.288/kWh and once you have locked into the FIT program the rate does not change over the lifetime of the contract, so now is the time to act. What does ‘acting now’ mean? It means picking up the phone and reaching out to us today! The application approval process generally takes about 6 weeks, and AVVIA will be with you every step of the way!
If you are new to the MicroFIT program you may be wondering how it works. 100% of the energy that your solar generation system produces is sold to the utility grid at $0.288/kWh. You will then ‘buy-back’ the energy that your home consumes, just like you would with standard electricity. This cost is in the range of 18-25 cents per kWh.
IESO will cease accepting applications under Microfit by Dec 31, 2017.