Is solar energy the way to go to cut dependence on oil for electricity?  Photovoltaic technology makes use of the abundant energy in the sun with miniscule impact on the environment. Photovoltaics can be used in a wide range of products, from small consumer items to large commercial solar electric systems.

Dr. Paul Jennings, a local researcher,  is proposing that photovoltaics be adopted for residential use islandwide, saying it could save the country $8.1 billion annually. However, funding for the $2 billion energy plan is his major hurdle.  He has approached energy minister Clive Mullings with his proposal with the hopes that the government will see it as something worth persuing and provide the money needed to jump start the project. 

This photovoltaic system, according to Jennings, could be installed islandwide within five years, while payback would come from revenues to be earned from subscribing households.  It will cost each household that switches from JPS $1.4 million.

In his proposal, Jennings argued that if this is adopted by the wealthiest householders, this programme could potentially save the country $2.75 billion on fuel imports and approximately $4.5 billion in savings at the household level.  These caluclations were based on 2006 fuel costs.

He suggests that the cost to the householders could be offset through a 15-year mortgage financing programme administered by the National Housing Trust, which could be funded by a mixture of loans and grants from the World Bank's Global Environment Facility. He also projects income of US$6.5 million from the sale of carbon credits under the United Nations Framework Convention on Climate Change.

"Satisfying household requirements for electricity from solar energy is seen not only as an effective means of reducing the national cost of electricity generation, but also as a significant contributor to reducing the emission of green-house gases," Jennings said.