Clean Energy Means Business
Now You Can Use Your Roof to Improve Your Bottom Line
Ontario’s Green Energy Act & Feed-In Tariff Program
In 2009 the provincial government of Ontario voted The Green Energy Act into law. This legislation was designed to turn Ontario into the world-leader in renewable energy production and jumpstart a “Green” economy. The Minister Of Economic Development, Sandra Pupatello along with The Minister of Energy ‘s office worked feverishly, and continue to do so today, to attract manufactures from around the world to invest in Ontario’s new Green Energy future. And the results are paying off. WindTronics, one of the first manufactures signed, brought with them to Ontario their amazing new Honeywell Wind Turbine technologies and opened up a state of the art manufacturing facility in Windsor, Ontario Where production has commenced and jobs are being created to help revive the stricken Windsor economy.
The Green Energy Act also provides the potential for lucrative returns to landowners and small business owners who install small renewable energy generation systems on their properties by ensuring that 100% of the power they generate will be purchased at premium rates by the local utility through a Feed-in Tariff program.
The Feed-in Tariff program guarantees that any power generated by a wind system with a faceplate capacity of 10 kW or less will be purchased by the Ontario Power Authority and your local utility through a 20-year contract at a rate of cents per kWh. Given that current hydro prices across Ontario are less than 10 cents per kWh, the potential for generating significant profits through wind production has never been better. In addition, the contract is fully transferable which increases the value of your property and allows you to sell the contract at a later time. Without a doubt, the Green Energy Act gives Ontario landowners the best renewable energy incentive program available in North America and perhaps the world.
For more information visit the OPA Feed-In Tariff Program website: http://fit.powerauthority.on.ca
Benefits, Both Financial and Environmental
Any amount of power that we can derive from renewable sources such as wind, solar and biogas generation means less reliance on fossil fuels and a reduction in the carbon emissions released into the atmosphere. However, the economics of renewable energy had prevented widespread adoption as the payback on equipment costs and future profit expectations were not significant enough, until now.
Whether installing one Honeywell Wind Turbine or a small microFIT Honeywell Wind Turbine farm , the customer can expect to recover the cost of the investment within approximately 3.5 years and then reap the profits for the remainder of the 20-year contract by way of steady and consistent cash flow every two months (or based on the billing cycle of the local utility). Based on annual class 4 wind speeds , at 60 cents per kWh (projected rate, not yet confirmed) a system owner could expect to generate approximately $1,621.00 per year in energy sales, per turbine.
In addition to the revenues that they generate, wind systems are eligible for an accelerated capital cost allowance under Canada’s income tax act. This means that the owner will be able to write off the capital cost of the equipment quickly, and within four years up to 90% of the total installed costs may have been depreciated, creating substantial tax savings and increasing your after-tax income. Be sure to discuss your own tax planning with your accountant or advisor as each individual case is different.
20 Year Energy Revenue Projections – Financial Analysis:
Various financing options are often available through your current chartered banker or leasing companies. Taking advantage of a financing plan would reduce the initial cash outlay at purchase and increase returns over the life of the contract. The following Financial Analysis was based on a secured credit line at 5% interest , amortized over ten years with 25 % down payment.
System Details 7.5 kW Honeywell Wind Turbine Grid Tie wind farm
R-E CANADA offers an industry-leading 7.5 kW Honeywell Wind Turbine system designed to take advantage of the Micro-Fit program. Working with our preferred suppliers, we will engineer, install and maintain your H.W.T. system to ensure you maximize the profitability of your OPA contract. Your R-E CANADA sales representative will review the equipment and installation costs as well as the annual cash flow potential of the system. Also, we make a maintenance and monitoring program available to our clients to provide year-round peace of mind and maximum performance from your H.W.T.system.