Results of Two-Year FIT Review Announced
- Recently, the Ontario government announced the results of the scheduled two-year FIT Program Review. The objective of the review was to ensure the long-term sustainability of the program.
Ontario's Government recently posted on its website steps to ensure a successful renewable energy program. According to the press release, the provinical government is moving ahead with its clean energy program, taking immediate steps to ensure the long-term sustainability of renewable energy while creating more jobs, lowering prices and giving communities a greater say.
Following the first review of Ontario's signature Feed-in-Tariff (FIT) Program, the government plans to implement all the recommendations, which include:
- Creating more jobs sooner by streamlining the regulatory approvals process for projects while maintaining the highest environmental protection standards.
- Reducing prices for solar projects by more than 20 per cent and wind projects by approximately 15 per cent.
- Encouraging greater community and Aboriginal participation through a new priority point system, which will also prioritize projects with municipal support.
- Reserving 10 percent of remaining capacity for projects with significant participation from local or Aboriginal communities.
- Developing a Clean Energy Economic Development Strategy to leverage Ontario's significant expertise and strengths to become a global leader in the sector.
Ontario's clean energy strategy has attracted significant renewable energy development, leveraging more than $27 billion in new investment and economic opportunities. More than 20,000 clean energy jobs have been created and the province is on track to create 50,000 jobs, while helping build a healthier future for all Ontarians.
Building a clean energy system is part of the McGuinty government's plan to create and support jobs for Ontario families while ensuring we have the electricity we need to power our homes, schools, hospitals and Ontario's economy.
The OPA has posted draft Program Rules and a draft Program Contract that reflect the FIT Program Two-Year Review Report recommendations on their website: www.powerauthority.on.ca.
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