Ontario’s Feed-In-Tariff (FIT) Program offers building owners in the province a chance to generate extra revenue by transforming their vacant rooftop spaces into cash-positive assets. Enfinity says it is expanding its outreach operations to help building owners learn more about, and utilize, Ontario’s renewable energy incentives to fund these solar projects.
Through its Commercial and Industrial Rooftop Lease Program, Enfinity becomes a rooftop tenant where it funds, installs, operates and maintains solar panels to produce electricity. In return, it pays rent to the building owner for the use of that rooftop space.
“Ontario’s FIT model is actually based on established, successful programs in Europe; it’s a way of quickly developing a competitive renewable energy marketplace that creates jobs and attracts private investor groups” says Chris Young, Enfinity’s managing director.
The company has 30MW of solar energy under construction in the region and has invested in the structural due diligence analysis of approximately 150 commercial buildings.
Young says many new solar startups entering the Ontario marketplace don’t fully appreciate the impact of a poorly designed, poorly executed project. “Unfortunately, these inexperienced providers negatively impact the overall solar market when they make unrealistic claims about the performance of their solar installations”, he notices.
In order to rectify that, Enfinity focuses on educating building owners on how a system can actually deliver maximum electricity production, accelerated investment recovery and guaranteed financial return in the long term.
“There’s a good deal of opportunity for rooftop solar today, and there’s definitely some sense of urgency in the marketplace. Commercial building owners need to act fast—but they also need to act prudently. We see it as our responsibility to make building owners aware of the opportunities as well as potential pitfalls concerning rooftop solar projects,” says Young.
To find out more about Enfinity’s complimentary seminar series, please go here.