Wednesday, March 28, 2012
Cuts to Ontario's Wind and Solar FiTs
According to the government of Ontario, the Green Energy Act has leveraged more than $27 billion in new investment and economic opportunities. It also has created 20,000 clean energy jobs.
The cuts to Ontario's FiTs are due to pressure from conservative legislators, the cost of electricity and the steep decline of equipment prices in solar and wind. Rates are now adjusted annually to reflect current prices.
The government has expedited the approval process and made more funds available for local communities. Ontario is also calling for new strategies in other cleantech sectors like smart grid technologies.
© 2012, Richard Matthews. All rights reserved.
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