Feed-in-tariff (or FIT) is a straightforward way for the Ontario government to contract for renewable energy generation. It provides standardized program rules, prices and contracts. Feed-in tariffs refer to the specific prices paid to renewable energy suppliers for the electricity produced by the generating facility. The pricing structure provides a reasonable return on investment and is differentiated by project size and technology type. Each contract/power purchase agreement is for a 20 year period.
For more information on FIT anf FIT Rules:
The Ontario Power Authority published the rules and tariffs for the FIT 2.0 Program on August 10, 2012. The rules include a “capacity set-aside” and points system that give priority to community owned projects. This has created opportunity for renewable energy co-operatives across Ontario to get involved and earn a fair return on investment.
GECO applied for and obtained 18 FIT contracts under the FIT 2.1 contract rules. 16 projects with a total capacity of 5MW were developed.
See the “News” section for updates on GECO and its portfolio.