Ontario Feed-in Tariff Yields Strong Market Response
The Ontario Renewable Energy Feed-in Tariff Program has resulted in a massive response from Ontarians wanting to develop renewable energy. The success of the Program, coupled with the Province’s accelarated conservation targets, paves the way for solving the challenges faced by the province’s electricity sector as coal is phased out and nuclear power plants de-commissioned.
These are the conclusions of a new report by CanREA President Jose Etcheverry of York University Renewable Energy Update from Ontario: Feed-in Tariff Yields Strong Market Response
As of February 2010, proponents of renewable energy projects had
submitted 956 FIT contract applications totaling more than 9,625 MW. The Ontario Power Authority has signed contracts for 2533 MW of this capacity that will involve close to $10 billion investment. The Ontario grid can only accommodate about 2,500 MW of new renewable energy capacity. However, this limited figure will increase as transmission and distribution networks are improved and the Province’s conservation and efficiency targets are met.
