Our country is fortunate to be located in the tropics with abundant sunshine. However, we failed to utilise the natural free energy available to us.
Now that our country has passed four IMF tests and the macroeconomy is in a better health to attract international lending agencies, it is prudent that the Jamaican Government use all its available resources to negotiate a loan to provide solar energy for residential housing. The programme would be developed in phases. The aim is to get at least 25 per cent residential houses connected within year one.
The Jamaican Government should borrow US$100 million and establish a revolving fund. This programme should be managed by the National Housing Trust (NHT).
Arguably, the NHT is one of the best managed government organisations. This organisation has the requisite resources, infrastructures and locations to execute the programme throughout the country. Using this organisation would reduce the need for a new organisation that would incur additional expenses.
The NHT would be responsible for the following;
Implementation and management of the programme
Managing the funds
Importation of the solar equipment
Installation of the equipment
Collection of monthly payments
Charging a five per cent handling fee
Determining the energy requirement of each house by using the applicant’s last JPS light bill.
Establishing four standard energy solutions based on monthly consumption; 100KW, 200KW, 300KW, and 400KW.
Establishing four standard monthly payment plans of $5,000, $10,000, $15,000 and $20,0000.
Establishing a payment plan for over five years.
Establishing a deposit not exceeding $100,000.
Applicants would be required to do the following;
Make application to the NHT
Make a down payment not exceeding J$100,000.
Make a monthly payment to the NHT.
This initiative would reduce the country’s energy bill, reduce our dependency on foreign oil, and reduce environmental damage. It would also reduce the amount each applicant spends on his monthly energy bill.
JOHN MCINTOSH
Hotel management consultant
jpmcintosh@hotmail.com
