The Government of Jamaican recognizes the importance of promoting alternative energy as a means for reducing our dependence on foreign oil reserves.  This approach has two main benefits: promoting stronger self-sufficiency amongst its citizens, and reducing the overall cost of business.  While the government has yet to implement some of the more meaningful measures that will reduce the cost of promoting wide-scale adoption of solar energy projects (i.e. Net Metering), they have initiated financing programmes to help business and home-owners retrofit their buildings with solar water and energy production systems.

Home Owners

One such financing mechanism is provided through the National Housing Trust.  According to their website: "The Solar Water Heater loan is to provide financing to Individual NHT contributors and recognized institutions for the installation and retrofitting of solar heating systems. The loan limit is $100,000.00."  Loans are being granted at the very competitive rate of 3% per annum with an initial 5% processing fee.  Loans can be paid back over a five year period. For more information about the National Housing Trust's Loan programme for Solar Water Heaters, click here.  A checklist of requirements can also be found here.

Businesses

Another loan programme developed with small to medium sized businesses and has a loan cap of US$50.000 (3% interest).  Our initial assessments show that the average business will save enough money to finance the deployment of a solar water system, on energy bill savings alone.  To learn more about this programme and/or to arrange a consultation, please contact us directly.