Hmm...am I doing the right thing?

If you are new to Solar or are not technically inclined trying to determine if a solar electricity generating station on your property or on your rooftop can be a daunting task.  Bottom line with MicroFIT you are making a commitment for 20 years with potential risk, although a lot less than the stock market these days but still.

What are the risk factors?

 As I see it, they are as follows:

Government political change - In Ontario the Conservative Party had threatened to cancel the microFIT and FIT programs.  What other damage would they do?  The government of the day can change  laws and regulations - how will that affect my contract?

Selling your home -  Ability of new property owners to get a mortgage. I’ve talked to my bank manager and to the manager of the local appraisal firm and they have no idea how to handle a house with a PV system I’ve talked to Real Estate professionals and they have no idea what the impact of a PV system would be on the future sale of your house.  In 2012, it is too early in the game for anyone to make firm comments…at least in Ontario, Canada. 

Resale appeal -  what will prospective buyers think of buying a home with a solar system and a government contract to sell the power being generated?  Will it scare away buyers or alternatively attract prospective buyers because of the income stream (if there is a microFIT contract in place)?  What happens if you sell the house after the contract expires? Will you have to remove the system in the future to enhance it’s sales appeal?

Insurance - will the insurance companies suddenly wake up and say hmmm fire risk, arc fault failures etc etc and raise rates to the point where it becomes unaffordable?

House taxes and reassessment -  Similar to point 1

MicroFIT post contract - you are now post contract. What to do?  Reroute the generation into your home or will there be another contract offered by the OPA and at what price?  20 years is a long time so I would think technologies will change.   Would there be a more efficient technology  available in the future ?

Roof replacement -Your roof may need replacing at this point..do you take the array down permanently?

Fixed asset - This installation is not portable like a stock, bond or bank account.  Are you ready to commit to a long term investment that although mostly maintenance free, still would require a bit of work over the 20 year or so period.  A lot can happen in 20 years.

Volcano in Indonesia -  I’m not kidding as we are dependent upon the sunlight to generate electricity