How to Take Part in microFIT
There are several different ways to get involved, such as:
- Owning your own project
- Leasing your property1
- Leasing equipment
- Participating in a project
1 This arrangement is not currently permitted under the microFIT program. As of August 2010, the Ontario Power Authority created an advisory panel to develop a new program stream for those who wish to lease their property to a third-party solar developer.
What You Should Know
The microFIT project adds significant value to your property, which has additional insurance implications. Most comprehensive home or business insurance policies require you to report any renovations or upgrades that impact the value of your property. Speak to your broker or agent before construction begins to make sure you are adequately protected in the event that you suffer loss or damage to your home or business.
Community Project? You May Still Need Insurance.
If you choose to develop a microFIT project with members of your community, the organization that serves as the microFIT contract holder is responsible for obtaining insurance for the microFIT installation.
However, your insurance professional may recommend each person also carry insurance for any loss of income or damage to property that is held jointly.