1. How long are the prices under the microFIT Program guaranteed?
Once a contract has been signed, the generator will receive the price specified in the contract over the 20-year term of the contract (40 years for waterpower). The price will not change for the generator once the contract has been signed except for applicable inflation adjustments. As stated in the microFIT Rules, prices will be reviewed annually.
2. If I enter into a contract, how much will I be paid for the electricity my project produces?
A range of standardized prices has been established under the FIT and microFIT Programs based on the IESO's knowledge of typical project costs, stakeholder input and experience in other jurisdictions where FIT programs operate. These prices have been differentiated by project size and type of renewable energy technology being used in the project. They are intended to cover equipment, installation, and operation and maintenance costs over the term of the contract and to provide a reasonable rate of return on investment. The FIT Program price schedule is available here.
You will be paid the FIT contract price multiplied by the amount of electricity produced (kWh).
3. How are payments made?
For projects connected to the distribution system – this includes all microFIT and some FIT Program projects – payments will be made by the local electricity distribution company (LDC) to the generator on a regular basis according to the LDC’s normal billing cycle. Payments will begin when a project is built, is in-service and has a contract.
4. Why are the prices different for different renewable energy technologies?
Prices differ by type of technology and are based on the size of the project because there are different capital, installation, building and maintenance costs associated with different technologies and project sizes.