Solar Power – Selling back to Ontario Hydro

I few weeks ago I received a call from Certified Solar, a company that installs Solar Panels, and she gave me some very interesting information that she felt some of my clients could use.

She explained that you can have solar panels installed on your roof and sell excess power back to the province for extra income.  TD Bank will help with the financing by providing up to $50,000 amortized over 15 years at 1% above prime.

The benefit kicks in with Ontario Power Generation’s MicroFit program, where the OPG buys solar power at the rate of 80.2 cents a kilowatt hour from homeowners. The result can be a 13 per cent to 15 per cent returns on investment over the projected 25-year lifespan of today’s panels.

Sounds like a great idea to me. Next week I am going to call for an assessment of my home and see what this whole program is about. This could be a fantastic opportunity to cut down on my carbon footprint, learn a lot and who knows, make some money!

Check out Certified Solar’s commercial, might be something you want to look into as well. Sure seems like a win-win situation to me.

 

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