The Green Energy Act is touting 50,000 jobs, the closure of coal fired plants and a prosperous future for Ontarians and Ontario Industry. Within the act are myriad implications to the condominium business. A portion of the Green Energy Act is the mandatory time of sale energy label. This means that every house sold will require a kilowatt and BTU per square foot rating, like a fuel efficiency label on a vehicle litres per 100 km. While this particular label will only apply to houses, it promises to l raise public awareness of energy as another price related to real estate value. Stimulus for solar and wind development creates an environment of energy investment that will be guided by pure self interest and financial reward.
The revised feed-in-tariff makes solar and wind energy production secure and profitable investments. Feed-in-tariff refers to a guaranteed purchase price for energy produced from wind, solar and biofuels. The FIT program creates a strong and guaranteed revenue stream which allows investors and community stakeholders to partner to create renewable power generation. The price for solar energy in Ontario starts at an amazing $ 0.80 per Kilowatt hour. To give a residential example, according to Ontario Solar Manufacturer, Arise Technologies, investment in a three Kilowatt Solar array will yield a guaranteed return estimated at nine per cent. That is fair money on a technology which has a 20-25 year warranty, a much longer life expectancy and no mechanical parts to fail.