Co-op, non-profit, and not-for profit housing provide modest, affordable housing to low-and middle-income households. In the 1980’s and early 1990’s there was significant building of affordable housing in Ontario and elsewhere across Canada. However, very few co-ops and other non-profit and not-for profit housing were built after the early to mid 1990’s across Ontario.
According to the Auditor General of Ontario, since1996,1.3 million new condominium units and houses have been built in the province. Despite the increase in the demand for units below market rent, only 20,000 affordable units have been built in the last two decades.
This has meant that existing affordable housing stock in Ontario is aging, most with corresponding serious energy inefficiencies leading to increased energy costs, requiring major retrofits and energy cost reductions.
Further, with the escalating costs of energy itself, including electricity, natural gas and home heating oil, those responsible for Ontario’s aging affordable housing stock need to find major energy efficiencies in the most effective ways possible - and do so in socially responsible ways, employing state-of-the art green energy technologies and seeking innovative green solutions that best fit their particular situation.
According to the May 2018 Fair Hydro Plan: An Assessment of the Fiscal Impact of the Province's Fair Hydro Plan Report by the Financial Accountability Office of Ontario, the previous Ontario governments cut to electricity costs to the consumer will:
"Cost the province $45 billion over 29 years while providing overall savings to eligible electricity ratepayers of $24 billion. This results in a net cost to Ontarians of $21 billion."
Despite the current provincial governments commitment to reduce electricity costs across Ontario, the cost of electricity will certainly continue to increase in the future.
Climate change is the major cause of extreme weather events we are experiencing across Ontario, having a negative impact on the electricity grid, leading to increased power outages.
Ontario's electricity grid is also aging, with regular and frequent breakdowns, also leading to more power outages, for longer periods of time.
In Ontario, net metering is a financial incentive that allows you to generate electricity from a renewable energy source (solar, geothermal, biomass, and wind) and store this energy in the power grid. When your solar panels or another renewable energy source produce excess power, that energy is sent to the grid and in exchange you can pull from the grid when your system is under-producing - like during nighttime, or during peak demand times, when electricity costs are higher.
With the right size renewable energy system, you can produce enough electricity to match your properties electricity use for the entire year. However, the amount of electricity your renewable energy system produces will vary throughout the year. Net metering helps you account for these differences by crediting you for the excess electricity your produce so you can use it later. In Ontario, these excess generation credits can be carried forward for a consecutive 12 month period to offset future electricity costs. Net-metered customers can now pair energy storage with renewable energy systems, and can save you substantial money on your electricity bill.
Green Energy Ontario can ensure you that your electricity costs are substantially decreased and even possibly eliminated entirely, with the introduction of green energy technology. As your green energy technology broker Green Energy Ontario will help find the best and most economical green energy technology solutions for you.
* Green Energy Ontario also is involved in providing innovative, economic and environmentally-conscious energy solutions to rural and near rural properties across Southern Ontario. For information related to this, please visit our Services Page