Legend Power Systems Inc. advises that as of April 14th 2010, the Ontario Power Authority substantially increased their conservation incentive funding across the entire province of Ontario for non-lighting technologies such as the Electrical Harmonizer-AVR, more than tripling both Legend Power's incentive funding in the regions outside Metro Toronto and the company's addressable market size.
The ERIP (Electricity Retrofit Incentive Program) has increased incentive funding to $800/kW from $250/kW for non-lighting measures. This program, while funded by the Ontario Power Authority, is executed and administered by Local Distribution Companies (LDCs) throughout the province. The company says this funding increase allows Legend Power’s customers outside of the 416 exchange to achieve a three-year or better payback in qualified facilities on the purchase of Legend Power's smart grid technology.
Legend Power Systems