Financing Renewables
Media Release
Friday, November 19, 2021 — The Caribbean region contains several abundant natural resources, including energy resources which have not been fully utilized. Member States of the Organisation of Eastern Caribbean States (OECS) are still heavily dependent on imported fossil fuels to power their economies and drive development. This situation leads to relatively high energy prices, and limits the potential for growth and expansion of other industries at the national level. At the household level, high energy expenditure hinders investments in other areas and can affect the overall quality of life.
Fortunately, in the last decade, public awareness of sustainable energy issues and the benefits of renewable energy have encouraged the move to renewable energy investments at the household, business, and national levels. As a result, more renewable energy projects are contributing to the region’s energy supply. This has been facilitated by the decreasing cost of renewable energy technologies as well as increased interest and availability of the technologies in the region. The use of renewable energy technologies such as solar photovoltaic (PV) and solar water heating systems makes good economic sense and can result in significant financial savings throughout the lifetime of these systems. However, the initial start-up finance for the investments can be a challenge.
What can be done to overcome this financing barrier? What new financing products are available on the market? How easy is it for the average person to gain access to financing? “The Eastern Caribbean Solar Challenge: Race to the Sun” promises to bring comprehensive support to the solar sub-sector in the OECS. Join us virtually on November 24, 2021, as we discuss the answers to these questions and present new exciting renewable energy initiatives in the Caribbean. This event is part of a Webinar series, in which the OECS Commission has partnered with the Government of Saint Lucia to observe Energy Awareness month under the theme, "From Dependence to Resilience: Fueling our Recovery with Sustainable Energy."
This Webinar will feature experiences and perspectives of a recent purchaser of a residential renewable energy system, a financing institution that is releasing some new lending products for renewables, and a supplier of renewable energy technologies.
Join us to learn how the OECS can bridge the gap for financing and share your perspectives with us as we venture into the renewable energy future.
Webinar Details:
Date : November 24, 2021
Time: 10:00-11:30 am
Registration Link: https://bit.ly/oecs-financing-renewables