Solar Heat beats Natural Gas on Price

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June 20,  2007 – Toronto   In a policy announcement today, Premier Dalton McGuinty has announced a program of support for Industrial / Commercial / Institutional solar thermal heat. The $14.4 million, four year program will fund 25% of the cost of a solar thermal system to a maximum of $80,000. The federal government also provides a contribution of 25% under the ecoEnergy Renewable Heat Program. The Ontario Government estimates that 500 installations will be funded under this program over four years.

For Mondial Energy, the program enables us to lower our energy price for customers. Buildings we have visited over the past three years can now be offered lower priced heat from renewable solar energy, than from natural gas. Our suppliers can look forward to an increased deal flow as we renew the marketing discussions we have already undertaken, and initiate new customer discussions.

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About Mondial Energy Inc: Mondial Energy pays for solar thermal systems on commercial customer roofs, and sells the metered heat to the building. We currently have two built sites in Toronto, respectively the largest and second largest solar panel sites in Toronto by power generated, and are in construction of two more.

Program background document [Ontario Ministry of Energy website]

[see also: Ontario: The new frontier for alternative energy, New York Times article, June 21, 2007]