A guaranteed pricing structure would be established for renewable energies including solar, wind, hydro, and biomass systems through stable, long-term contracts. The tariffs make it feasible for homeowners, schools, and commercial buildings to install relatively expensive rooftop solar systems and sell back excess power generated.

"The proposed feed-in tariff program would help spark new investment in renewable energy generation and create a new generation of green jobs," said George Smitherman, Deputy Premier and Minister of Energy and Infrastructure.

The solar energy tariffs, if implemented, will be the highest in North America, making an attractive new market for solar companies. Nanosolar Inc., a California-based company is eyeing Ontario as a location for a regional assembly plant of thin-film solar modules.