Despite the long and dark winter, solar panels keep lining Germany
Aubyn Hill, Financial Gleaner Columnist
THIS WEEK, Blue Energy, a British company, announced that it will build Africa’s largest solar power plant in Ghana. By the time it is completed in 2015, the 155-megawatt facility will be the fourth-largest power plant in the world and is expected to supply 20 per cent of the Ghanaian government’s target of generating 10 per cent of electricity from renewable sources by 2020.
Apart from being the second-largest producer and exporter of cocoa in the world, Ghana is a significant producer of oil and, in March, Tullow Oil of London stated that an oilfield it found off the coast was a major find. Still, Ghana has made it easy for this US$400-million investment in solar energy to go ahead. The Nzema project will be situated on 183-hectares (about 403 acres) of land in western Ghana. The Ghanaian government has given the investor a100-year lease, as well as planning and connection permission to the 161kV West African Power Pool transmission line, which links Ghana to the Ivory Coast, Togo, Benin and Nigeria.
Int’l investors responded swiftly
The CEO of Blue Energy, Chris Dean, speaking to the
Edwards-Hamilton
NationGrowth Micro-Finance Limited is offering Jamaicans special financing arrangements for the purchase of alternative energy systems and equipment. This will dramatically reduce the cost of electricity bills for consumers within the medium term, with monthly loan repayments being lessened relative to client’s average current electricity bill. The loan period extends for a maximum of five years and effectively generates free electricity for many years with the installation of a full system.
According to chief executive officer of NationGrowth, Kim Edwards-Hamilton, “Energy conservation is a critical component in assisting every householder and business in realising a saving in the current and future cost of electricity. We have packaged a renewable energy loan offer for clients that will increase the use of alternative energy sources and promote energy conservation.”
She said further that, “loans can be accessed to accommodate energy conservation projects, for example conversion to LED fixtures and energy-efficient appliances and the purchase of solar water heaters, solar power systems (photovoltaics), biodigesters and wind turbines.”
Loans are offered at a maximum of J$2 million, subject to clients meeting the necessary requirements. Interest rates are at eight per cent per annum and the borrowing period goes up to five years, including a three-month moratorium on the principal.
benefit of solar system
Following the passage of Hurricane Sandy, IREE Solar, a renewable energy provider, through its managing director, Alexander Hill, pointed out that, “having a solar power system during and after a storm is a huge benefit when the public electricity grid is down”. He stated that, “IREE Solar offers both off-grid and hybrid solar power solutions that allow the owner to generate their own power from the sun during the days and use that power immediately or during the night.”
NationGrowth commenced operations in December 2007. The company was founded by former banker Aubyn Hill. The company aims to be the leading micro-finance company over the long term by extending effectual financial and related services to micro-entrepreneurs, individuals and businesses in the small and medium enterprise sector, by providing fast turnaround decisions on workingcapital assistance and responsive customer service at a profit.
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OLD Fort Village, a gated community being developed in St Ann, will supply its power independent of the Jamaica Public Service (JPS). The housing development, comprising 10 townhouses and apartments, will be the Caribbean‘s first development completely powered by renewable energy sources, the developers said.
“I have been 75 per cent energy independent with solar and wind at my own home in
A hybrid renewable energy system utilizes two or more energy production methods, usually solar and wind power. The major advantage of solar / wind hybrid system is that when solar and wind power production are used together, the reliability of the system is enhanced. Additionally, the size of battery storage can be reduced slightly as there is less reliance on one method of power production. Often, when there is no sun, there is plenty of wind. In comparison to solar modules, wind turbines can offer a more favourable dollar per watt ratio. You want to consider a hybrid system when you SOLAR power has finally become a viable option, driven by falling prices for photovoltaic panels and the soaring cost of oil, say proponents of the alternative energy. Rooftop panels, which could last for 25 to 30 years, will now pay for themselves in just six or seven years, claim advocates. Until recently, the pay-back period was up to 20 years. The cost of solar cells has fallen by as much as 49.5 per cent since the start of 2011, according to the PVX spot market index, which tracks the monthly wholesale costs of the industry.
As if the Caribbean having the 3rd highest electricity rates in the world was not bad enough now JPS is hiking rates 10%. The ridiculousness is that they still can’t give any alternate plan to help reduce electricity costs. The wind farms they are building are not big enough for any of us to really benefit so whats the point. They need to get a contract finished to allow net metering or net billing for solar clients which is an immediate answer that would provide relief. Net metering/billing is the fastest way to ease some pressure off residential and commercial clients that invest in solar and will allow more people to be able to afford solar. If there was a net metering/billing policy in place the residential clients would not have to buy as many batteries which account for 30% of the solar system costs. Instead people could send the excess solar energy back to the JPS grid and then pull it back from the grid when needed. This has worked in Germany, USA, Spain and many other countries so why not in Jamaica… JRob Gleaner article below on JPS hike. Jamaicans are being advised to expect an increase in their electricity bills for this month. The Jamaica Public Service Company Limited (JPS) says there will be an increase in the Fuel and IPP Charge on customers The Bellevue Hospital in Kingston is looking forward to cuts in its electricity bill after receiving a gift of seven solar outdoor lighting system donated by the Petroleum Corporation of Jamaica (PCJ). The solar panels, which were recently installed, will save the health facility some $700,000 per year, representing approximately five per cent savings. PCJ Chairman Paris Lyew-Ayee said yesterday that with oil prices on the increase, it is important that the Government be a leader in saving the commodity.