The Ontario government is expected to make an
announcement regarding the province’s feed-in tariff (FIT) program by month end
– a statement that the industry has been eagerly awaiting, as it is bound to influence
countless current and future energy projects.
After requesting feedback on the FIT’s two year
review, the province received nearly 3000 submissions, which are under current
assessment. The review examines critical areas of the program such as pricing,
grid capacity and contract regulations, and the resulting announcement is sure
to shape the renewables industry in years to come. At present, a number of wind,
solar and other renewable projects have stalled while energy developers and
suppliers deal with uncertainty over the FIT program’s future. This is expected
to change with the government’s announcement, which will answer many of the
questions that the energy sector has been asking in recent months and spark a
“back to business” mentality across affected industries.
A 25% or higher drop in the rates for PV projects is
expected as a result of the review. Some industries, including solar, should
see price changes as a result of decreased technology costs. As expected, these
industries are eager to move forward and get back to business as soon as
possible.
As a government
announcement regarding FIT appears to be imminent, Team Cronos remains
committed to working within the energy sector as they have for over ten years.
If you’re looking to make a move in these industries, please contact Team
Cronos today!
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