Do you want to be friendly to the environment by switching to solar energy AND saving some money? Under the MicroFIT Program of the Green Energy Act, you can have solar panels installed on the roof of your home (or apartment building) in Ontario and pay absolutely nothing. The energy company will actually pay you for the electricity these panels will generate! Sounds too good to be true? Well let's see if it is or it isn't.
Pure Energies offers you to install and insure panels at no charge if you meet certain requirements, such as a home with a roof younger than 5 years, a south or west facing roof, ideally 400 sq.ft or more and no tree cover. The main catch - panels will have to stay on for 20 years. You can sell this property and they will transfer the contract, but there is pretty much no way out of this contract.
Because your roof will be covered with panels, you will have very limited access for repairs on one hand, but on another roof will wear much less and last longer. To address that Pure Energies offers to remove and install panels back free of charge once in 20-year period. This way you can replace the roof without extra cost. Anything beyond this one-time action is on you.
One important thing to consider is your property insurance. Check with your insurance company if they will still cover your building. Even if they will, the rate might change.
Will you save/make any money on this? Well it's important to understand that you will not be using energy that is produced over your head. It will be sold to the power company at premium rate set by the government (and NOT subject to change over 20 years) and then you will buy it back at regular price that is valid at the time. It is unclear if there will be delivery charge FROM your home, but there will be one for sure for delivery TO you (just as you can see on your bill now).
Keep in mind that it is unlikely panels will produce much electricity in the winter, because they will be covered in snow.
Based on feedback we were able to find, average household receives a check for $300-$500 every year (issued annually). Energy company receives $2000-$3000 worth of electricity from these homes.
A few hundred bucks might be a good additional stream of income from the property, but you have to committed to this project.
Great Post!!
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