Seizing the Power of the Sun

Why Caribbean Businesses and Homes Should Install Solar PV Now!

Jade Hutchinson
Managing Director, Noah Energy

The Caribbean region is renowned for its abundant sunshine. With an average of 5-7 peak sun hours per day, it's a prime location for generating solar energy. By installing solar PV now, you can tap into this energy goldmine to reduce your electricity cost and your reliance on traditional fossil fuels.

 But don't just take our word for it. Let's hear from someone who has already made the switch to solar PV. Michael Thom, the owner of La Cantina Wines in Saint Lucia decided to install a solar PV system for his office building, and the results have been remarkable.

 Michael says, "We are a small business operating several air conditioners in order to keep our wine storage facility at a constant temperature. Consequently, we have a significant electricity bill, which is why we decided to install a PV system. Following the installation, we estimate that we are achieving annual savings equivalent to about 14.5% on the entire cost of the project. Considering that we also utilised a 5 year loan, we are extremely pleased with our decision to move to PV electricity generation.

We selected Noah Energy because of their competitive price and their professional approach.

They also assisted in finding financing and a grant towards our 25 kW project and have provided excellent service and support throughout.”

 One of the major advantages of solar PV is the significant cost savings and financial benefits it offers. Some islands pay up to three time more than developed nations for Electricity. Businesses and homes can significantly reduce their electricity bill by installing a solar PV system. That's more money in your pocket to invest in growing your business or treating yourself to something nice.

 Solar PV is also a superhero when it comes to protecting you against energy price volatility. While traditional electricity prices can fluctuate due to fuel costs and market conditions, solar energy keeps things stable. By installing solar PV systems, you can lock in your energy costs and avoid those unpleasant surprises. It's like having your own personal shield against unpredictable energy markets.

 Now, you might be thinking, "Should I wait for PV system prices to drop before making the move?" It's a valid question, but consider this: solar PV costs have already been on a steady decline over the years. According to data from the International Renewable Energy Agency (IRENA), the cost of solar PV has plummeted by more than 80% since 2010. While prices may continue to decrease gradually, the question is, can you afford to wait?

Every day you postpone going solar means another day of high electricity bills. It's like holding onto a leaking bucket when you could easily plug the hole and start saving. By installing solar PV now, you'll begin reaping the financial benefits immediately. The longer you wait, the more money you're essentially pouring down the drain. For instance, the cost of installing a 25-kilowatt solar PV system (which is suitable for an electricity bill of approximately US$1,000 to US$1200) has decreased by approximately US$10,000 to US$15,000 over the past four years. During that same period, a solar PV system could have saved you more than US$30,000.

 Of course, the advantages of solar PV extend beyond financial gains. As responsible members of the Caribbean community, we have a duty to safeguard our environment and combat climate change. Solar PV is a clean and renewable energy source that produces zero greenhouse gas emissions. By adopting solar PV, you'll be reducing your carbon footprint, preserving the beauty of our region, and leaving a lasting legacy for future generations.

 And guess what? Our governments and international organizations are totally on board with the renewable energy revolution. They're offering some fantastic incentives and support programs to help you make the switch to solar PV. In counties like Saint Lucia, solar PV systems carry no duties and, recently, Value Added Tax was removed. This has significantly reduced the cost of a solar PV system; in some cases, by over US$3,500. This means the saving from your solar PV system would pay for the cost of installation in less than 4 years. And let’s not overlook the favorable financing options provided by our local banking institutions. By taking advantage of these incentives now, you can enjoy even more savings and financial benefits.

 It's time to seize the power of the sun! With abundant sunshine, cost savings, stability against energy price fluctuations, environmental sustainability, and government support, solar PV is an opportunity you don't want to miss. Let's make the move to solar energy, harness the Caribbean sunshine, and create a brighter, greener future for our beautiful region. The time is now, so let's embrace solar PV and reap the benefits for years to come.

 And remember, Michael and countless others have already taken the leap and are reaping the rewards. Don't miss out on this transformative opportunity. Go solar today!