Ontario’s Green Power Act may present a lucrative sideline for companies prepared to rent out their roof space for solar panels.

Solar Power Network, a organization that specializes in renting out the space and then selling the resulting solar electricity towards the provincial government, says it pays out about 76 cents per square foot of space per year, over the 20 years of a contract for the roof space.

That operates out at about $26,500 a year for a 250-kilowatt system and double for a 500-kilowatt technique. The company has just announced 35 new contracts with organizations to supply solar power to the province, under a landlord/tenant type agreement.

“The buildings we are taking a look at usually are not normally commercial-type buildings but industrial properties including factories and manufacturing plants,” mentioned SPN chief executive Peter Goodman. “It provides rental income exactly where there was none.”The Green Power Act, which provides subsidies for renewable energy, has come below fire from critics like the C.D. Howe Institute, which has argued that it really is pushing up costs for buyers.

The act will add about $310 a year to the regular household electrical power bill, the assume tank said in a report released last month.

Goodman stated solar power costs among 53.5 cents and 71.3 cents per kilowatt-hour, compared with 10 cents for conventional electrical energy.

However, rapidly enhancing technologies, much of it pioneered by China, is bringing down the price of green power, he stated.