The IESO's annual audit cycle is happening right now and we have just finished another round of audit support. Since audits never come with fair warning, now would be a good time to ensure your DC documents are in order.
The FIT program’s Domestic content (DC) requirements served to help stimulate manufacturing job creation in Ontario’s renewable energy sector by ensuring that solar and wind FIT 1 & 2 projects used a certain portion of goods and services that were manufactured in Ontario or performed by Ontario Residents.
As you know, Suppliers at any time can undergo a random audit by the IESO for the purpose of reviewing whether the renewable energy facility has been developed in compliance with the DC requirements.
The IESO will often pair the DC audit with a Contract Facility audit, generally within a few months of each other. This additional audit has a turnaround time of 10 business days and will often request items such as the Metering Plan, technical specifications including ‘As Built’ documents, and photos of certain equipment on site.
Having these documents prepared in advance will save you a lot of headaches. Best of all, you keep your lenders happy by giving them peace of mind.
In the event of an audit from the IESO, you’re given a limited time frame to prepare and submit your documents (often 10-30 days). In some cases, the information needed to satisfy the audit response can take longer than 30 days to compile. If your supply chain slows you down (or no longer exists) you could miss the submission date and risk non-compliance.
Don’t risk failing your audit or missing a deadline. With unparalleled expertise in FIT contracts, Compass can help ensure your preparedness in the event the IESO decides to audit your solar project. Compass will provide you with site visits and assistance with preparing all required documentation for DCR audits. We can help ensure compliance and keep your lenders happy.
Contact Compass today for a free consultation: