Investing in Solar is now a SMART financial investment.
Reoccurring Income - By entering into a 20 year purchase agreement with the OPA (Ontario Power Authority) you will be paid on your regular billing cycle from you local distribution company. This means you will receive a cheque every 1-2 months (depending on your LDC’s billing cycle) for the amount of energy produced, guaranteed, for the next 20 years.
Industry leading payouts - Under Ontario’s new Micro-FIT program, participants are guaranteed $0.549 per KWH of electricity produced for the next 20 years. This means an average home with a 2 KW system can produce enough electricity to earn roughly $2000.00 a year for the next 20 years.
Add Value to Your Home - The value of a solar system is added to the appraised value of your property and does not increase your property taxes. You can increase the value of your home 8-12% above normal property appreciation. Your home is generating income monthly. Solar is one of the few home improvements that can be justified in terms of return on invested dollar.
Assured Return On Investment- The average rate of return for someone investing in Ontario's Micro-fit program is roughly 8-13%. Currently, no other investment option offers an assured rate of return in those figures. Even with $100,000 invested in a GIC the best rate is 2%.
Protect Yourself From Escalating Energy Costs in the Future - Electricity is becoming more expensive every year. Over the last 35 years, the average annual rate increase has been approximately 6.5%. Ontario has introduced “smart metering” which will see cost of electricity jump during peak hours. It is hard to predict what energy will cost in 20 years but once the 20 year contract has expired, homes with solar PV can always “net meter” reducing their hydro bills significantly. By simply using what they produce they can offset the cost of the electricity needed.