Ontario Unveils Renewable Energy Incentive

The Ontario government has unveiled a vast, new renewable energy incentive program which could accelerate the use of renewable energy in the province. The plan is called a "Standard Offer Contract", where the government will offer buy electricity at $0.11/kWh (kilowatt-hour) from producers of wind, biomass and small hydro energy. It will also offer to buy solar photovoltaic energy at $0.42/kWh. The term of the contracts will be 20 years, and there will be an inflation adjustment. The residential retail price for electricity in Ontario is under $0.06/kWh (all figures in Canadian currency). All the electricity generated would be sold to the local utility company and go into the overall power grid. :: Via Renewable Energy Access and The Star