Ontario Rooftop Rentals Become Prime Real Estate as Power Authority Pays Generously for Rooftop Solar Power
Since September, when the Ontario Power Authority began its generous payment for rooftop solar power, Toronto’s commercial roof acreage has carried a price tag. Solar developers, now able to earn a steady income providing solar power to local utilities for 20 years, are willing to rent building rooftops, at an average of 30 cents per square foot. Ontario Power Authority will now pay between 53 cents and 71 cents per kilowatt-hour for solar electricity, and the utility guarantees a fast connection to the grid so solar developers can quickly start making money. And since the arrangement is that the utility pays the Feed-in Tariff amount monthly for 20 years, both the solar developer and the building owner are guaranteed a pretty steady income for 20 years. And it gets better. At the end of the 20 years, the solar developer transfers the system to the building owner to use for his own benefit for most likely another 20 years. Sounds like a pretty sweet deal for both the solar developer as well as the building owner.