DESPITE the high cost of electricity, the Pacific has lagged behind in the use of renewable energy especially solar power, says International Finance Corporation’s regional manager Pacific Tom Jacobs.
A new partnership between IFC and Smart Commercial Solar, Pacific businesses struggling with high energy costs can get help to evaluate more competitive options.
In a statement issued yesterday, Mr Jacobs said: “The world is moving away from the age of fossil fuels to the age of renewable energy.
“This is a unique paradigm shift that will allow the Pacific Island Countries to meet their ambitious renewable energy targets over the next 5-10 years,” he said.
“The aim of the research is to determine the barriers to solar development and increase commercial solar use throughout Pacific.”
According to the statement, the first phase of the project would kick off with a free energy report offered by SCS to businesses interested in calculating how much they could save if they switched to solar.
It said the report was targeted at commercial and industrial customers who paid commercial rates for electricity.
The report, which is accessed after filling in a small online survey, shows the savings a solar system will generate for an organisation.
SCS chief executive officer Huon Hoogesteger said the Pacific solar campaign had a dual focus — supplying electricity users in the Pacific Islands with information on how to reduce costs and gathering data on the challenges business’ face and what assistance they might need in making the transition to solar.
“Solar panel prices have fallen 80 per cent since 2009 making solar electricity very competitive especially in the Pacific Islands which experience some of the most expensive electricity prices in the world,” said Mr Hoogesteger.
He said recent feasibility studies completed in Vanuatu as part of this project, showed rates of return more than 20 per cent and payback periods under four years for grid tied commercial solar.
According to the statement, global trends suggest businesses get the best results from solar as they are on higher tariffs and use most of their power during the day.
It said the systems are grid tied, meaning a connection to the local utility provider is maintained and no battery storage is needed.
One uses solar while the sun shines and return automatically to the grid when it doesn’t.
The research, that is funded through the Pacific Partnership, supported by the governments of Australia (DFAT) and New Zealand (MFAT), will also help determine what has been holding back the growth of solar electricity in the Pacific Islands with specific focus on developing sustainable solutions.
The survey is targeted at understanding the challenges for commercial electricity users in the Pacific Islands, to assist them in making the transition to cheaper energy.
The statement said interested companies could take the survey at www.pacificsolarsurvey.com
