Personal Finance

ONT ONLY - microFIT solar panel program: 10-14% return for 20 yrs * FAT LADY HAS SUNG

  • Last Updated:
  • Oct 19th, 2017 10:27 am
Member
Oct 17, 2015
354 posts
76 upvotes
Mississauga
MoreDealz wrote:
Jun 24th, 2017 8:58 pm
Took the plunge on the microfit program. I was able to get a great price for a 9.3kw system. Panels will be going up in the next few weeks and hopefully all this rain and cloud cover will be behind us. Also just got my roof redone with 50 year shingles (I know that only typically means 20 year) , so there shouldn't be any reason to have to take these panels down for a long time. Really looking forward to seeing it all working and knowing that I am contributing to helping the environment.

Thank you for all the knowledge provided in this thread. I'll definitely be making reference to it for years to come.
Can i have some details i am looking for a similar system to install. How much was the total cost? I'm interested in a 5.5-6kw system, the rate is 6% higher then 2016's. The price for solar has been estimated to have gone down by about 7%. Is there a company in the GTA that you recommend
Member
Feb 23, 2015
290 posts
11 upvotes
Mississauga, ON
Need help.

Our company has two locations, both have flat roofs, single storey buildings. One is about 3000sf and other about 5000sf, no obstructions, very open area in Georgetown, ON.
Therefore much larger than typical home roofs. Since output tends to be about 1KW/100sf these roofs can generate upto 30 and 50KW respectively.
I just started researching various programs, it seems FIT program (10 to 500KW) is not taking any applications. True?

I guess microFIT (under 10KW) and Net Metering are the only options, right?
There is so much info that it is easy to make a mistake in choosing. Which program do you think we should go for?
We don't care if we are paid immediately, we can wait if that will bring in more income in the long term.
[OP]
Deal Guru
User avatar
Nov 18, 2005
10354 posts
1856 upvotes
Kingston
BizDeveloper wrote:
Jul 2nd, 2017 1:46 pm
Need help.

Our company has two locations, both have flat roofs, single storey buildings. One is about 3000sf and other about 5000sf, no obstructions, very open area in Georgetown, ON.
Therefore much larger than typical home roofs. Since output tends to be about 1KW/100sf these roofs can generate upto 30 and 50KW respectively.
I just started researching various programs, it seems FIT program (10 to 500KW) is not taking any applications. True?

I guess microFIT (under 10KW) and Net Metering are the only options, right?
There is so much info that it is easy to make a mistake in choosing. Which program do you think we should go for?
We don't care if we are paid immediately, we can wait if that will bring in more income in the long term.
microFIT provides a higher returns and allows you to recoup HST on the system cost.
Jr. Member
Nov 29, 2011
160 posts
34 upvotes
Toronto
afshaikh wrote:
Jun 19th, 2017 10:50 pm
I've actually decided against getting Solar altogether. The return on investment just doesn't make sense and you're locked in for what seems like forever.

Plus I have a roof to replace in a few years and the cost to take off the panels and replace again is about $3000!

Plus what most companies don't tell you unless you ask the right questions is that it costs 700-$1000 to switch to Net metering down the Road. For me, that's added $4000 costs on top of a $34k installation cost which makes the pushes the payback from 11 years to 13-14 years which is way too long be locked in for.

I will wait it out after I get my new Roof in a few years and maybe there will be an incentive program like EV cars that comes or the payback is half of what it is now for Net Metering.

Thanks to everyone who provided insight and helped me come to this decision.
It looks as though you have found all the excuses for NOT going to solar.
If you need a new roof then do it now
The return on investment is not bad if you get a decent price and $34k is NOT a good price by far. $25K or better is a good price and your system is paid off in 7 to 8 years.
I doubt you will find another incentive like this again.
Sr. Member
May 5, 2007
570 posts
63 upvotes
North York
So spend 10-12k for a new roof now to decrease my back by few years. Doesn't make sense.

Plus that's like saying find BMW for 20k instead of 30k so it makes sense to get one.
Member
Feb 23, 2015
290 posts
11 upvotes
Mississauga, ON
JWL wrote:
Jul 2nd, 2017 2:19 pm
microFIT provides a higher returns and allows you to recoup HST on the system cost.
But microfit is only for under 10KW roofs, meaning most of our roof will be unused? (being 3000 and 5000 sf)
If we get microFIT do they allow us to move to the FIT program in case FIT resumes?
Deal Addict
User avatar
Sep 10, 2003
1412 posts
79 upvotes
Hamilton
I think the part of the title the fat lady has sung sums up all of this. Wynne has begun slashing clean energy programs due to controversy with a lot of it. If you can still make sense of the micro fit I'd hop on before it's gone too. I doubt you'll see FIT ever return, unless maybe she can get reelected again! Lol
Jr. Member
Nov 29, 2011
160 posts
34 upvotes
Toronto
afshaikh wrote:
Jul 3rd, 2017 11:47 am
So spend 10-12k for a new roof now to decrease my back by few years. Doesn't make sense.

Plus that's like saying find BMW for 20k instead of 30k so it makes sense to get one.
If you are spending 10-12gs to put on a new roof then you really are not shopping around. You are also pricing a solar system at the highest price. Obviously you don't really want one or you would get er done. You won't see a micro fit like this again. The fat lady will truly have sung in 5 months. IF you were seriously shopping for a system, you could get your roof done for 5gs now and put a system on it for less than 25gs. You are not locked into anything. Your system would be paid off in 7 to 8 years and then you are in the plus column for the remaining 12 to 13 years. Not only are you making money on the solar but you will also save on air conditioning as your attic will not get anywhere near as hot and your home stays cooler. I found my air conditioner runs a lot less now since the panels went up. Your new roof will also last forever under the panels.
[OP]
Deal Guru
User avatar
Nov 18, 2005
10354 posts
1856 upvotes
Kingston
BizDeveloper wrote:
Jul 3rd, 2017 2:26 pm
But microfit is only for under 10KW roofs, meaning most of our roof will be unused? (being 3000 and 5000 sf)
If we get microFIT do they allow us to move to the FIT program in case FIT resumes?
You asked about microFIT vs net metering, so that's what I answered.
I agree with slotscanada that FIT is permanently done and microFIT is on the way out.
Sr. Member
May 5, 2007
570 posts
63 upvotes
North York
Went through 3 people only Lowe's person followed through with a quote.

The rest just were throwing random numbers around with no real plan or follow up. I'm not so song 2-300 dollars that these guys are not interested in doing business. The whole process has been a turn off due to these solar companies.

If anyone has any reputable person or contractors in Toronto please list them or PM me.

And yes I've read the whole thread and contacted several people but no one followed through.
Newbie
Jun 28, 2017
2 posts
I have three proposals for a microFIT installation on my house in Scarborough. I have narrowed it down to two. One is from solar dynamics and the other is from solar brokers.

Both systems are just under 6kW. Both quote the same inverter, and both offering a 20 year warranty on the inverter. They differ in the brand and size of panels. They are within $1000 of each other in terms of pricing. I'm hoping to get a little insight from any one with experience with either company.

Thanks
Last edited by jradwk on Jul 7th, 2017 8:03 pm, edited 1 time in total.
Newbie
User avatar
Nov 29, 2015
46 posts
19 upvotes
Bradford, ON
Howdy folks, show of hands here...
What scenario is everyone in?

1. Pay off the panels using my own money right up front?
2. Loan the money from the bank and pay off the loan with money earned from solar, whilst not using any of your money.

This is just a question to see what people might actually be doing. I have heard that both options are very popular and it all boils down to personal preference.
Member
Jan 10, 2005
286 posts
72 upvotes
Just got a quote from Lowe's solar, 36k including HST, connection fee and building permit fee. I liked the materials proposed (9.9kw of Tier1 panels, solar edge inverters and power optimizers, shletter racking). A bit of a pressure sale (750$ rebate "ending soon"), and some misleading CRA related info ("tax free" income), but overall not bad for the information provided.

My questions:

Is this competitive in the Chatham area? Install is a no brainer, low slope (3.5 pitch) shed roof, single plane.
New structure, so the orientation and slope is good. Minimal shading, but because it is a treed lot I may get some afternoon (4pm plus shade), which tends to push me to optimizers vs string inverters
Jr. Member
Nov 29, 2011
160 posts
34 upvotes
Toronto
MANGLER wrote:
Jul 8th, 2017 7:48 am
Just got a quote from Lowe's solar, 36k including HST, connection fee and building permit fee. I liked the materials proposed (9.9kw of Tier1 panels, solar edge inverters and power optimizers, shletter racking). A bit of a pressure sale (750$ rebate "ending soon"), and some misleading CRA related info ("tax free" income), but overall not bad for the information provided.

My questions:

Is this competitive in the Chatham area? Install is a no brainer, low slope (3.5 pitch) shed roof, single plane.
New structure, so the orientation and slope is good. Minimal shading, but because it is a treed lot I may get some afternoon (4pm plus shade), which tends to push me to optimizers vs string inverters
36K is too high. You should be able to get that down to under 30k all in. With that low pitched roof, you could do the install yourself and get the price down to under 26k all in.
Jr. Member
Nov 29, 2011
160 posts
34 upvotes
Toronto
MoreDealz wrote:
Jul 7th, 2017 10:54 pm
Howdy folks, show of hands here...
What scenario is everyone in?

1. Pay off the panels using my own money right up front?
2. Loan the money from the bank and pay off the loan with money earned from solar, whilst not using any of your money.

This is just a question to see what people might actually be doing. I have heard that both options are very popular and it all boils down to personal preference.
If you have the money, pay for it. If you don't then borrow it and wright off the interest. So many people don't want to spend their savings and I always ask...WTF are you saving it for then? Ive met hoarders of all kinds including money hoarders. They get into their 70s and 80s and accomplished a ton of savings but never spent it....so now they have a pile of paper. The human mind is a complex thing but so often steered in the wrong direction.

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