A feed-in tariff or FIT is a straightforward way to contract for renewable energy generation. It provides standardized program rules, prices and contracts. Ontario's FIT Program is North America's first comprehensive guaranteed pricing structure for renewable electricity production. It offers stable prices under long-term contracts for energy generated from renewable sources, including:
The FIT Program was enabled by the Green Energy and Green Economy Act, 2009 that was passed into law on May 14, 2009. The OPA is responsible for implementing the program.
The program is divided into two streams - FIT and microFIT. The FIT Program is for renewable energy projects that can generate more than 10 kilowatts (kW) of electricity. Very small projects, at a home or small business, that can generate 10 kW or less come under the microFIT Program.