IESO has recently announced that it will no longer accept new applications for the MicroFIT program as its procurement quota has been met (Read more). Applications that have already been accepted will continue to be processed.
MicroFIT in Numbers
- 26,000 contracts
- 230MW of generation capacity
- Less than 10KW in size
Although above numbers are impressive, solar power still represents less than 1% of all the electricity that is generated in Ontario. The good news is that solar power is becoming incredibly cost effective and more and more homeowners are installing solar panels on their rooftops. The future of the grid will look much different with solar generating a bigger share of the total production.
Image Source: IESO
After the conclusion of MicroFIT, Deeva Solar team will now focus on net metering program. Net metering is somewhat similar to MicroFIT in that it is also a grid connected system however, homeowners are able to use the electricity they produce and sell extra to the grid for a credit on their hydro bill. Market rate is used to calculate this credit. More information to follow on net metering program.