Jamaica Solar Panel systems provide at least a 20 to 30% return on investment
Over the past 5 years, USSolar Institute has trained hundreds of solar PV installers from the Caribbean and Latin America because Caribbean PV Investment Pays Both Ecological & Financial Dividends to everyone the college touches.
In fact – even though we initially launched our Department of Education licensed courses for the Florida market, more than 70% of our graduates have come from countries like Jamaica, the Bahamas, and the Dominican Republic.
Conclusion 1 – With international enrollment numbers like these, it’s clear that residential and commercial demand for solar PV systems is very high in this region of the world.
Just this spring, we hosted the first-ever Jamaica Alternative Energy Expo. This 2-day event attracted more than 1,000 attendees, sponsors, exhibitors, and politicians as we tackled some of the key challenges and opportunities facing the Caribbean’s burgeoning solar market.
Conclusion 2 – It’s not simply local businesses and residents who are clamoring for solar. As oil prices continue to climb and the sun remains constantly free, many island nations are taking closer looks at how they source and produce the energy they need.
Roughly 1 month ago, we attended the Renewable Energy Finance Forum (REFF) in Miami. This year’s theme was Latin America and the Caribbean, and not surprisingly, I saw a few of the same faces I’d seen in our solar training classrooms and at the Jamaica Alternative Energy Expo.
But there were also many more faces that I didn’t recognize.
Over the 2-day conference, investors and financiers from all over the world filled Miami’s Four Seasons Hotel to discuss the countless business opportunities emerging throughout the region.
Conclusion 3 – What began as a trickle of entrepreneurial activity soon grew to a stream of regional solar growth. With the introduction of international investors from across the globe, that stream has swelled to a river of business opportunity.
The goal is to transform that river into a flood. We’re not there quite yet (although we’re closer than you probably realize).
It’ll take some time as investors and companies figure out how to properly structure deals, redirect capital, and help finance solar projects throughout the region. This was precisely the whole point of the Forum – to introduce outsiders to an untapped market that is brimming with renewable energy potential but lacking in the financing to make large-scale solar projects profitable.
For investment to work, the numbers have to add up. And 5 years ago, I honestly don’t think the Renewable Energy Finance Forum could have made a dent in the Caribbean or Latin America.
Today, however, I can’t imagine any better place on the planet to hold such an event:
- Electricity and fossil fuel prices are at all time highs, with many countries in the region operating crippling trade deficits in imported oil
- Interest rates are at all time lows, making capital cheaper than ever
- Political will is on the rise, with many island nations throughout the Caribbean and Latin America introducing solar/green legislation that puts Florida to shame
Against this backdrop, solar investment in the Caribbean and Latin America doesn’t just make “sense” – it makes “dollars.”
And this is partially why USSolar Institute attended the event.
While we don’t have huge coffers of money to “invest” in the region but, someone has to prepare a solar labor ready local workforce to make it all pop out of the ground – in these areas we may have few equals.
Our training courses help set the foundation by creating a solar workforce that can transform incoming capital into tangible, profitable assets. Without sufficient domestic talent and a deep understanding of local permitting laws, most investment strategies will fail.
In addition, we’ve launched a range of customized solar PV systems specifically designed for the Caribbean market. Believe it or not, having easy access to Jamaican solar panels is arguably more important than having easy access to the credit needed to buy said panels. Read here to understand why.
The success of this year’s Renewable Energy Finance Forum is proof positive that these investments will pay off. The Caribbean and Latin America represent huge opportunities for anyone interested in the abundant ecological and financial dividends that a solar-powered economy can provide.
Originally Posted on USSolar Institute
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