How much will a system cost?
FIT
The pricing on th FIT system vary's depending on the size of the system. There are alot more factors at play with the FIT program versus it's smaller version, microFIT. For more accurate pricing regarding FIT systems, feel free to contact us.
MicroFIT
The microFIT system is easier to give rough prices so customers can have an idea what they are looking at before calling us to set up an appointment. MicroFIT system prices are roughly as follows:
Size of System Approximate Cost
3 kW $26,000
5 kW $38,000
8 kW $53,000
10kW $64,000
These prices do not include taxes and are rough estimates only.
Our FIT and microFIT packages are turnkey operations. Lucas NRG will take care of all the steps of the process for you. To get the process started we will apply to the OPA on your behalf. This step of the process is the longest. After applying, you should expect to recieve your conditional offer in 3-6 months. While we wait for the OPA conditional offer, not much happens. Once we have your conditional offer from the OPA, we commence with the rest of the process. We will go ahead and get all the permits, engineering (mechanical, structural, and elecrical), as well as ordering the materials. Once all permits have been obtained and engineering done, we begin to install the system. This process should take roughly a week to have installed. Once the system is installed, we contact your local power distributer and have them connect your system to the grid. After that, your payments for power generated begin to come in monthly or bi-monthly, depending on which you choose.
The pricing on th FIT system vary's depending on the size of the system. There are alot more factors at play with the FIT program versus it's smaller version, microFIT. For more accurate pricing regarding FIT systems, feel free to contact us.
MicroFIT
The microFIT system is easier to give rough prices so customers can have an idea what they are looking at before calling us to set up an appointment. MicroFIT system prices are roughly as follows:
Size of System Approximate Cost
3 kW $26,000
5 kW $38,000
8 kW $53,000
10kW $64,000
These prices do not include taxes and are rough estimates only.
Our FIT and microFIT packages are turnkey operations. Lucas NRG will take care of all the steps of the process for you. To get the process started we will apply to the OPA on your behalf. This step of the process is the longest. After applying, you should expect to recieve your conditional offer in 3-6 months. While we wait for the OPA conditional offer, not much happens. Once we have your conditional offer from the OPA, we commence with the rest of the process. We will go ahead and get all the permits, engineering (mechanical, structural, and elecrical), as well as ordering the materials. Once all permits have been obtained and engineering done, we begin to install the system. This process should take roughly a week to have installed. Once the system is installed, we contact your local power distributer and have them connect your system to the grid. After that, your payments for power generated begin to come in monthly or bi-monthly, depending on which you choose.
Paying off your investment
If you qualify for the microFIT program your initial investment should be paid off in approximately 7-9 years. The contract with the OPA is for 20 years, so this means that the remainder of your contract will be purely profit. With the FIT program the timeline varies based on the size of system you install.
Financing your system
Financing your system is definately an option. Some banks already have a program in place specifically for lending money for renewable energy projects. Lucas NRG can set you up with a personal banker that can help you through the steps of financing. We can also provide you with 100% financing over 15 year term.
Grants or incentives
The Ontario government is currently not giving out grants to help with the cost of installing any renewable energy systems. They are willing to buy the power from you at a much higher rate then the cost of using it yourself, and it is because of this, the purchasing of the system is the responsibility of the property owner. There are some grants available for special interest groups, such as community churchs or aboriginal groups.
