The Ontario Power Authority has selected more 99 MW of solar power projects to receive payments from it. This comes from 330 new contracts under its just extended solar feed-in tariff programme.
Feed-in tariffs, is when a renewable energy power producer is guaranteed a specific rate for the specific duration (generally 15 to 20 years) against the electricity produced and sent into the grid. Where in, the homeowners and the business houses can opt for an attractive, low-risk investment.
121 (31MW) involves ‘First Nation and Métis community’ participation. 60 of the projects (18MW) have ‘community’ participation and 151 projects (50MW) have ‘municipal or public sector’ participation.
These new contracts are expected to produce electricity which would be good enough for 13,000 homes.
The FiT (Feed in tariffs) programme has helped generate keen interest among power producers and the communities across Ontario as well. The FIT contracts are about to offer represent significant investment in Ontario and in the electricity system.
The transformation of electricity system to be cleaner and more sustainable is well on its way.”