North Shore Power Group developed a business model where we could team up with property/homeowners and invest in the MicroFIT program to generate revenue for both parties. The result was an Equipment Lease Agreement for the solar projects we installed at no cost to the home or property owner. Under this agreement, NSPG absorbed the upfront cost of the entire system and its installation, as well as the cost to operate and maintain the system for the duration of the 20 year contract. In return, NSPG retains 90% of the revenue the system generates to cover these costs, and the home owner retains 10% off the top, having contributed zero funds themself. Not a bad deal! In addition, NSPG also ensures that we carry insurance for the systems, pay the delivery fee bill associated with the microFIT system and also look after tax registration and remittance, where applicable. In creating a revenue stream for residents and the Town of Blind River, the operation and maintenance the systems require for the span of their contract has also generated local jobs.
Are you an NSPG Lessee as described above?
Below you will find information that you may find useful. Please note that you are welcome to visit or call the office at any time for further information as well. (More Coming Soon!)
Manage Your Contract - Login to your ‘My MicroFIT Home Page’ with IESO - CLICK HERE
Lessee Info Update Form - Change your email, phone number, mailing address, etc - UPDATE
Electronic Funds Transfer - Receive your quarterly package and payment online - SIGN UP!
Notice of Sale of Property - If you are listing your property to sell, please complete this form and return it to us as soon as possible so that we can make sure you have the information you need for a successful transition. (Coming Soon - Contact our Office in the meantime)
HST AND INCOME TAX - What needs to be remitted, reported and how to do it! (Coming Soon - Until then, contact Muriel Dean (705) 356-1604)
FAQ - Answers to commonly asked questions (Coming Soon)
Quarterly cheque issuance:
Each year we issue quarterly cheques to our Lessees. The schedule used is as follows:
Period: Cheques Due in Mail by:
Quarter 1 (January - March) Cheque issued by end of May.
Quarter 2 (April - June) Cheque issued by end of August.
Quarter 3 (July - September) Cheque issued by end of November.
Quarter 4 (October - December) Cheque issued by end of February.