ClearSky Energy Inc. | Box 81148 RPO Fiddlers Green, Hamilton, Ontario, Canada L9G 4X1 | phone: 905-581-4810
   
   
 
 





Jan 06, 2014 - MicroFIT Procurement Target is 65.3 MW

The total microFIT Procurement Target available for 2014 will be 65.3 MW.

This incorporates the 2013 unused capacity of 15.3 MW, which is added to the 2014 procurement target of 50 MW. The OPA procured 14.7 MW of the 30-MW microFIT procurement target that was in place from August 28, 2013 to the end of 2013.

Information on progress made toward the procurement target and remaining megawatts available can be found in the microFIT bi-weekly reports.

The January 1, 2014 price schedule is now in effect. Applicants to the microFIT Program are reminded that their contract price will be based on the price schedule in effect at the time their Application Approval Notice is issued.

Please ensure that you regularly monitor your My microFIT Home Page for updates to your application status.


Click here to read all microFIT program updates in their entirety


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Frequently Asked Questions:

Where can I read more about the financial incentive programs offered by the provincial government?

Where can I read about Ontario's Green Energy Act?

Is my property a good setting for a solar installation?

How do I know that the next provincial government will not terminate the FIT/microFIT program?

Can the OPA alter the price per kWh offered under the FIT/microFIT program?

How is it beneficial for the government to purchase my solar power at a price that is much higher than I currently pay for electricity?

Does a microFIT/FIT program participant earn income for income tax purposes?

What amount will the microFIT/FIT participant include in income in a particular tax year?

Is a microFIT/FIT participant allowed to deduct expenses against the income earned under the contract?

Can a microFIT/FIT participant deduct any costs associated with the purchase and installation of the renewable energy project?

I'm unfamiliar with the terminology used in the solar industry.  Where can I educate myself?

How do I get started?

FAQ - Answers:

Where can I read more about the financial incentive programs offered by the provincial government?
The most comprehensive source of information about the current incentive programs can be found on the Ontario Power Authority website: http://fit.powerauthority.on.ca/

Where can I read about Ontario's Green Energy Act?
A summary has been made available by the Ministry of Energy and Infrastructure.   You can read it here.  For additional information visit the following website:  http://www.greenenergyact.ca/

Is my property a good setting for a solar installation?
An unobstructed south-facing roof is the ideal setting for solar panels.  However, an east-west roof with good exposure, or even a ground-mounted system can work just as well.  Contact us for a site assessment and we'll provide all of the information you need to make an informed decision.

How do I know that the next provincial government will not terminate the FIT/microFIT program?
The agreement with the FIT/microFIT program is a contract and is protected by contract law. No government can simply circumvent the contract once you are approved and receive your contract. The new government by law must continue with the existing contract, but they can change or cancel the program from taking any new applications. You are protected once you have the approval and conditional offer.

Can the OPA alter the price per kWh offered under the FIT/microFIT program?
Once you have received your FIT/microFIT approval, as long as you meet Ontario content guidelines and connect your solar installation to the grid before the given contract offer expiry date, the OPA cannot change the rate that was offered at the time of your approval, or modify the 20 year term.

How is it beneficial for the government to purchase my solar power at a price that is much higher than I currently pay for electricity?
There are several reasons why this is beneficial to our government:

- The price we currently pay is not the real cost of electricity (or even the average). The government currently subsidizes the price you pay for electricity.

- Solar installations produce power at peak times (example: sunny mid summer days), when they already pay a premium to import additional electricity from other provinces or from the United States.

- We are projected to be short the energy required over the next number of years due to population growth and the aging infrastructure. The short term cost to build new plants would be substantial.

- Solar moves power generation to the local community level rather than one large plant in a central area (i.e. decentralization of the grid)

- Green economy job creation. This is accomplished by having a required Ontario manufactured component to each solar PV project of 22%+ (as of August 28, 2013). This encourages renewable energy companies to produce equipment in Ontario, have equipment installed by Ontario solar professionals and create jobs for its citizens.

Does a microFIT/FIT program participant earn income for income tax purposes?
Yes. The amounts earned by a participant under a contract are considered income from a source that is either business or property.

What amount will the microFIT/FIT participant include in income in a particular tax year?
A microFIT/FIT participant will include all amounts earned for electricity generated by the renewable energy project. Generally, the participant will report the income earned under the contract, regardless of when the amount is received.

Is a microFIT/FIT participant allowed to deduct expenses against the income earned under the contract?
A microFIT/FIT participant may deduct any reasonable expenses incurred to earn business or property income. For example, a homeowner who installs a solar PV system on the roof of his or her residence may deduct any incremental increases to property taxes and insurance resulting from the installation of the solar PV system.

Can a microFIT/FIT participant deduct any costs associated with the purchase and installation of the renewable energy project?
Generally, costs associated with the purchase and installation of renewable energy projects are considered as capital costs of depreciable property, which are deducted over a period of several years, based on a prescribed percentage. This deduction is referred to as capital cost allowance (CCA). The amounts paid for legal, engineering, installation, and other fees that relate to the acquisition of the renewable energy property would be included as part of the capital cost of the property.

In general, a participant would include the capital costs of renewable energy property in class 43.1 or 43.2 for CCA purposes, provided that the property meets the requirements of these classes. The classes provide an accelerated CCA rate for specified clean energy generation equipment.

If the majority of tangible property in a project is eligible for inclusion in class 43.1 or 43.2, certain intangible project start-up costs such as feasibility studies and pre-construction development expenses may be treated as Canadian renewable and conservation expenses (CRCE). For most taxpayers, these expenses may be deducted in the year incurred or carried forward for deduction in a future year.

Further information regarding CRCE can be found here.

I'm unfamiliar with the terminology used in the solar industry.  Where can I educate myself?
We've assembled a glossary of solar related terms in the Solar Basics section of our website. You can read them here.

How do I get started?
Contact us for a site assessment and we'll be more than happy to help you through the process!

 
 
 

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