One of the core goals of the FIT Program is to encourage the development of community-based renewable energy projects. This is done through reduced security payments, additional price incentives and opportunities for funding through the Community Energy Partnerships Program.
Community investment members means, for the purpose of the FIT Program:
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one or more individuals resident in Ontario
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a registered charity with its head office in Ontario
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a not-for-profit Organization with its head office in Ontario
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a "co-operative corporation", as defined in the Co-operative Corporations Act (Ontario), all of whose members are resident in Ontario.
The following examples are provided for illustrative purposes:
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Company A is wholly owned by two individuals. Both are residents of Ontario and the only purpose of their company is to develop community projects. Company A's projects would be considered 100 percent community projects.
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Company B is wholly owned by two individuals. One of these individuals is a resident of Ontario whose primary business is not non-community renewable energy projects. Company B could submit an application with 50 percent community participation, provided the economic interest of the Ontario resident was at least 50 percent.
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Company C is wholly owned by two individuals. Both are residents of Ontario, but they earn their income primarily from non-community renewable energy projects. As Company C is engaged in large-scale renewable energy projects, its applications would not qualify as community projects.
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Two Ontario residents own 30 percent of the shares in Company D, a publicly traded company. Company D invests in a renewable energy project. The two residents cannot claim that 30 percent of the project should qualify as a community project.
Security payment amounts are lower for community-based projects.
The FIT price schedule includes additional price incentives for projects that have different levels of equity ownership by community-based proponents.