Chris Chopiik

Green Energy Act and Condo Retrofit

April, 2009 By Chris Chopik Imagine the south facing façade of every condo tower filled with solar panels. Panels poised to harvest the power of the sun to provide the electricity grid with enough energy to completely offset the cost of air conditioning the entire tower. Not only is it possible, but it makes financial sense. While the time to market will be mired by the Condominium Act and supply chain development lag, there may be opportunities to take tower renewal to new platitudes of energy performance. The revised feed-in-tariff makes solar and wind energy production secure and profitable investments. Feed-in-tariff refers to a guaranteed purchase price for energy produced from wind, solar and biofuels. The FIT program creates a strong and guaranteed revenue stream which allows investors and community stakeholders to partner to create renewable power generation. The price for solar energy in Ontario starts at an amazing $ 0.80 per Kilowatt hour. To give a residential example, according to Ontario Solar Manufacturer, Arise Technologies, investment in a three Kilowatt Solar array will yield a guaranteed return estimated at nine per cent. That is fair money on a technology which has a 20-25 year warranty, a much longer life expectancy and no mechanical parts to fail.