Private Energy Stimulus
ARISE Technologies Says Ontario's FIT Program Will Launch Surge of Clean-Energy Projects
WATERLOO - Yesterday's announcement by the Government of Ontario that it is proceeding with the Feed-In-Tariff (FIT) program, a critical element of the government's Green Energy and Green Economy Act, is the "green light that clean-technology companies and potential customers across Ontario have been awaiting. It will launch a surge of clean-energy projects ranging from small, residential installations to industrial and utility-scale generating systems," said Ian MacLellan, President of ARISE Technologies Corporation's Systems Division.
ARISE Technologies Corporation, which is dedicated to becoming a leader in high-performance, high-quality, cost-effective solar technology, is among the clean-technology companies that expect to benefit from the new FIT program, which replaces the government's previous Renewable Energy Standard Offer Program (RESOP). As outlined in the government's announcement today the FIT should improve payback and make the economics very attractive for solar systems across all segments in Ontario.
"As the first FIT program in North America, we expect that Ontario's program will prove to be a model for other provinces, states, and municipalities to follow. We also expect the program to pave the way for an increase in development and innovation, leading to green job opportunities," Mr. MacLellan said.
"ARISE currently has numerous commercial and residential solar projects under consideration. We expect that the FIT program will stimulate demand for PV (photovoltaic) solar-power projects across all segments, from community-based rooftops and commercial installations to large utility-scale solar farms," stated Vern Heinrichs, the company's President and Chief Executive Officer. FIT rates should enable solar participants to generate consistent, reasonable, and predictable returns over the long term, and that should make such projects attractive for financing."
"Judging from the numbers of solar feasibility studies that ARISE has recently conducted for prospective customers," Mr. MacLellan added, "interest is expected to be particularly strong in the small- to medium-sized residential and commercial segments. The provision of long-term price guarantees is expected to increase investor confidence and access to financing, which should smooth the way for numerous projects that have been on the drawing board for some time as well as many new ones."
"In growing our Systems Division's business," Mr. Heinrichs added, "we also expect to create demand for our PV cells for use in the solar panels in the systems that we install to meet the demand in Ontario. We currently are in discussions with module manufacturers toward proceeding with leveraging our vertical integration capability in pursuing opportunities in Ontario. We believe that the vertical integration that ARISE is developing from silicon production through PV cell manufacturing and systems installation should provide us with a competitive advantage in terms of supply-chain economies and quality assurance."