Ontario’s green energy numbers don’t add up:
Wholesale Average Weighted Cost (YTD) of Ontario electricity: 3.35 cents/kWh
Guaranteed 20-year contract price per kWh for solar panels (ground level): 64.2 cents/kWh
Guaranteed 20-year contract price per kWh for solar panels (roof-top): 80.2 cents/kWh
Guaranteed 20-year contract price per kWh for wind turbines: 13.5 cents/kWh
(link to microFIT rates, pdf)
Cost to the province in 2011 to reduce bills by 10% to hide increases caused by green energy programs until after the election: $1.1 billion
Ontario has promised to pay renewable energy producers up to 23 times the actual price for electricity which is the driver for increased bills and time-of-use billing. At risk of belaboring a point, sustainable subsidies are not sustainable. Premier Dalton McGuinty has pulled the plug on offshore wind projects – it’s time to end the FIT programs before they bankrupt us.
The opposition understands math, even if Dalton doesn’t.