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Ontario plans feed-in tariff to boost investment in renewable energy

Ontario plans feed-in tariff to boost investment in renewable energyQueen’s Park’s new tool to help drive construction and development in

Ontario’s green economy is a proposed feed-in tariff to sweeten the

renewable energy investment pot.“The proposed feed-in tariff program would help spark new investment in

renewable energy generation and create a new generation of green jobs,”

George Smitherman, Deputy Premier and Minister of Energy and

Infrastructure, said in a statement.“It would give communities and homeowners the power and tools they need to

participate in the energy business in the new green economy.”Ontario’s feed-in tariff is a North American first and introduces new

electricity pricing to encourage renewable energy development from

homeowners to large scale commercial generators.The guaranteed pricing structure in the feed-in tariff would offer a

stable, competitive price combined with a long-term contract. The tariff

would establish prices for energy generated from renewable sources such as

onshore and offshore wind, hydroelectric, solar, biogas, biomass and

landfill gas.“Ontario has a number of advantages in developing its offshore wind

potential and those advantages should provide for a lower price point than

offshore wind projects in Europe,” said John Kourtoff, president and chief

executive officer of Trillium Power Wind Corporation.“The announced tariffs are very progressive and are a tremendous start for

renewable energy in Ontario.”Trillium plans to build a 710 MW offshore wind facility in the middle of

Lake Ontario, 28 kilometres away from the Prince Edward County shoreline.

This project, known as Trillium Power Wind 1, will result in a facility

that will power at least 300,000 Ontario homes annually, offsetting nearly

1.7 million tons of carbon emissions each year. The feed-in tariff’s

proposed prices for this type of project is a good start, added Kourtoff.“The 19 cents is a good reference point for offshore wind and we are

looking forward to working with the provincial government to make sure that

it is a good deal for consumers as well as developers,” said Kourtoff.SunEdison Canada is currently building a 9 MW solar PV project near

Kingston which will power over 1,000 homes when completed later this

summer. The new feed-in tariff will encourage companies like it to purse

more renewable projects on a larger scale, said Ron Mantay, country manager

at SunEdison Canada.“We anticipate that a number of renewable energy companies will consider

increased investments in Ontario in response to the government’s call for

‘green jobs’ and renewable energy generation,” said Mantay.The province explained that under the feed-in tariff a farm-based 250 kW

biodigester would cost around $1.7 million to install, and could earn back

this investment in approximately 12 years. A 10 MW, community-owned wind

farm, would cost around $32 million to construct and have an expected 10

year payback.An eight-week consultation with renewable energy stakeholders, hosted by

the Ontario Power Authority and open to the public, is currently underway

and ends May 5. The consultation sessions will seek renewable energy

suppliers seek and feedback from on proposed program rules and contracts.To view the original article please click hereTo view the very latest in green & renewable energy jobs please click here