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Solar energy brightens Scarborough's future

01.01.70

Scarborough’s solar energy industry is anticipating the results of a review which could impact its growth and popularity.

The Ontario government is undertaking a scheduled review of its Feed-in-Tariff (FIT) program as part of the Green Energy Act put in place by the Liberals in 2009.

The FIT program allows homeowners, businesses and private developers to generate set amounts of energy through wind and solar, and sell it back to the province at a fixed rate over a 20-year contract.

The program is subject to review every two years to assess price adjustments and regulations.

Robert Clack, a sales manager for Eco Alternative Energy , expects the government to pay a lower rate for renewable energy after the review to reflect the decreasing cost of manufacturing the technology. The company installs solar panels on residential homes in the GTA.

“Regardless of what they come out with, we expect someone’s return on investment to be about 10 per cent,” he said. “It’s still going to be a good program and a financially beneficial program for homeowners.

Source: The Toronto Observer