Crazy Canuck

I've been looking into putting a solar panel system on our roofs at work under the Ontario Power Authority FIT Program.

The numbers presented are compelling. Big investment but great return.

http://fit.powerauthority.on.ca/

TrackdayRSA.

My neighbour is a builder and has installed solar panels on some homes under this program. He tells me for a $40,000 upfront investment it will cash flow $10,000 a year to the homeowner. Sounds very interesting, I only wonder if the agreement is ironclad or can be changed under a new government?

Crazy Canuck

It is a contract. The only place I can see a problem is if you don't generate as much power as you're supposed to and the manufacturer doesn't guarantee the product.

Here's the payout schedule.

carrera

These numbers sure seem to coincide with the *'tgtbt' formula!
There is a fellow here with some real life experience, hopefully he will chime in.
My understanding is that the payback period is much longer than four years.
Perhaps fifteen to twenty.


* too good to be true

Crazy Canuck

I calculate between 6 & 8 depending upon performance.

TrackdayRSA.

I haven't looked at the program at all, just going from what I heard. I'll see what else I can find out.

peritus

Sub'd

Turbodan

most manufacturers give a 25 year warranty with some degradation allowed. typical payback is 10 years. gov't can cancel or disconnect you at any time (unlikely) but not ironclad. you pay a monthly fee. it is pretty good for the evironment but not enough to shut down any power plant. pretty much a feel good thing with little effect...particlularly in Canada where we don't get that much sun...must be facing south. and must be on your roof to get full $. must clean the snow off too.

9six4

One of my inlaws just had one installed at their farm. It cost close to 100K and can power 7 toasters. It is automated so that it tracks the sun and goes flat when the wind is over a certain speed. As for warranty, once it was installed it was hard to get someone out to look at it. They get paid for the power produced and pay for the power they use, two separate accounts.
Every kilowatt counts.