Thursday, December 2, 2010


So set aside the health issues, since you are either on one side or the other-complete belief or denial and there appears to be no budging anyone on that.

Lets talk about finances, something we can all agree on.

In a nutshell the province is paying 64 cents/kw (down from 80 cents/kw) over 20 years to companies that generate "renewable energy" where equipment for the the solar panels/turbines or gasification plants are sourced in Ontario.

Then the government resells it at a low of 4 cents/kw to a maximum of 6 cents/kw-YES that is 6 cents/kw.

Here is an example of Ikea and solar panels:

"IKEA will spend $4.6 million to install the solar panels, which will generate a total of 960,000 kW. At the FIT rate, the province will pay IKEA $684,480 a year for 20 years versus about $115,000 it would have had to pay for electricity from the Oakville gas-fired facility. Under the FIT rate, IKEA will pay for its solar equipment in 6.7 years."

And of course the next 13 years of $680,000/year, totalling $8.84 million paid by the taxpayers is pure profit to them.

Can you blame companies for taking advantage of this-NO.

But you can and should be blaming the government.

Not only are us regular folk losing value in our one asset that is tax free-our homes- by having these facilities (turbines, solar and gasification) located next to us, we are paying to subsidize the "green energy" initiatives through our hydro bills, which are scheduled to increase by 40% to 46% over the next five years.

BUT don't fear, the Liberals are going to "give" us all a 10% rebate at a cost of about 1.1 billion dollars annually, which, wait for it, we will pay for through our taxes.

What is astounding is they thought this up to generate the "green vote", but it has backfired so badly, I would go out on a limb here and suggest this will be the issue that gets them booted out of office.

Read the article in the Toronto Star, which is highly critical of this approach and don't forget they really are the Liberal media voice in Toronto. When even they aren't buying this crap, why should anyone else?

Financial Post article:

1 comment:

  1. Stupidity reigns from one end of the political spectrum to the other.