The microFIT is a program that supports the development of small, renewable electricity generation projects, like solar panel installation. That’s all good and well, but what authority creates, governs and controls it? That’s what we’re here to explain in today’s blog.
The microFIT program is part of the largest climate change initiative in North America and was created by IESO. The organization has a motto of “Connecting Today, Powering Tomorrow.” IESO stands for the Independent Electricity System Operator, working at the heart of Ontario’s power system. They don’t fit into one box in the electricity sector, delivering multiple key services from managing the system in real-time to planning for future energy needs and more.
The sector is always evolving, and the IESO understands this. That’s why they continue to enable conservation and design more efficient electricity solutions. The IESO works with various stakeholders, embracing positive changes through the Market Renewal project. They plan for electricity solutions by examining Canada’s varying needs. A large chunk of this comes down to a strong commitment to public participation and engagement with the community.
If you participate, you’re paid a guaranteed price over a 20-year term for the electricity you produce and deliver to the province’s electricity grid. Guaranteed prices cover the costs of typical projects, allowing you to earn a reasonable rate of return on investment throughout the contract’s duration. Each year the IESO receives a limited amount of application for this program. The year 2017 will be the final year that the microFIT program is being offered, and spaces are limited. Once the cap has been reached, it will no longer be available to the public. At the time of this blog release, they are about halfway full, so there is still some time left.
Now, you may be wondering. “Why does this matter to the customers”? Well, the IESO approves or denies microFIT applications. So, it’s always good to be aware of the criteria established by the IESO when it comes to the microFIT.
Want to learn more? Visit their website at ieso.ca/get-involved/microfit/news-overview to find about any 
further queries you may have. It’s all there, including tips about the microFIT program and more.
Thanks for tuning into our blog, we’ll see you next time.
