Barbadian householders could save just over $1 million per year on their electricity bills through the installation of solar voltaic panels.
Managing Director of Solar Dynamics and a regional pioneer in the solar water heating industry, James Husbands told Barbados TODAY that this was the target the 30,000 households which spend an average $3,600 a year on their light, should target.
Speaking to this newspaper during the break of a Green Seminar, jointly sponsored by the Barbados Chamber of Commerce and Industry and the Association of Certified Accountants, Husbands said the present use of electricity was a challenging recurrent cost.
“If you can put a system in place that can eliminate that recurring cost, you have the opportunity to save money normally spent on paying for electricity. And with current Government incentives, you have the opportunity to make money,” the well respected businessman noted.
“So if you had money on the bank,” he added, “and getting two per cent per year and still paying $300 in electricity per month, that’s $3,600 per year; and you are going to get $240 in interest sitting on the bank. The point is, you are losing money every time you pay the electricity bill.”
Even if you borrowed the money to buy the solar PV system,