OTTAWA, ONTARIO--(Marketwire - June 6, 2011) -
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Solart's clients wish to help other homeowners increase their use of cleaner and safer energies today by sharing the financial benefits of solar installations with the microFIT program. This program was launched by the Ontario Power Authority in 2009, in which, the government purchases electricity back from participants for a 20-year period at 80.2 cents per kWh.
"I compared my solar undertaking to a guaranteed investment certificate (GIC) -- with an up-front cost -- giving me a great source of diversification," Jason Hum, Oakville resident and banker, said. "My system was in the $30,000 range with a payback period of 7 1/2 years earning my family approximately $4,000 per year." The prices of turn-key systems, where the installer handles everything from product purchasing to technical support, can vary from $30,000 to $60,000 for residential properties.
"It is not easy determining a definite return-on-investment (ROI)," Hum noted. "I used the RETscreen tool to calculate my ROI." Given that each installation is unique, Solart's engineers use similar software programs to figure out an accurate ROI. The financial analysis fluctuates based on the project size, efficiency of components, condition of the roof, and angle the panels are placed. Solart's clients have benefited from ROIs ranging from 11 to 15 per cent by working with their assigned project manager during the life cycle of the solution.
"The property value of my home went up after installing the panels, like having a finished basement," Jean-François Nadon, Waterloo resident and lawyer, said. To speed up the course of projects, early adopters like Hum and Nadon recommend that interested parties:
- Secure their financing up front with the new solar loans available at the banks;
- Find a committed partner company that is well-versed on government regulations to handle the required paperwork (e.g. obtain the necessary permits from their local township).
Program participants also pointed out that going solar was not solely about earning additional income: "I was excited by the green aspects of my project," Nadon said. "Solar panels provide us a beneficial way to become free from harmful energy sources because they can last up to 40 years."
About Solart
The Solart LLL Corp. (www.solartgroup.com), a management solutions company, realizes solar panel projects for commercial and residential clients from allowing them to visualize a solar project in 3D to projecting future revenues with after-sales service provided. The company is focused on offering ongoing lucrative financial opportunities to investors and affordable solar technologies at all procurement touch points. With proven experience in photovoltaic installations, a team of Solart's experts in engineering, project management, and customer support assist clients across Ontario and Quebec with their green ventures.
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