Long time since this was updated. As of February 2017, the Ontario govt has stated that it prefers net metering to the MicroFIT program for PV installations. Therefore, there will be no new MicroFIT installs after the end of the year (the exact date is unknown to me). In my opinion, the people who have pushed for this, including HydroOne, who never wanted solar in the first place, have killed off a good source of manufacturing jobs in this province and reduced the growth in a the only truly renewable and benign power source available.
Net metering, as of now, still requires an application (with its fee) to the IESO (formerly the OPA) and also requires a payment to the utility for connection. This could total $2000 depending on the utility just for the privilege of having your meter run backwards. While it is better than nothing, the cost seems a bit steep. To get around these fees, many people are installing “behind the meter” systems or ones that do not send any power to grid, only to the home or to a battery backup system such as the Tesla Powerwall or others by Panasonic, etc.
Still another way to save the power is to use an electric car as a battery for the house. I have still not done this but it is talked about a lot. Stay tuned for more.