“We saved a lot on our energy bill in the first month under the home solar energy program,” a young homeowner said of their first electricity bill a month after the solar company switched on their home solar system.
“Our monthly power bill usually runs between $250 to $280 each month with the average energy use of 543 kWh. After our first month of using the home solar energy, our power bill was only $20.52. We had additional savings of about $100 after we paid the solar home loan,” added the homeowner, name withheld by request.
The homeowner is one of the many recipients of the home solar energy system from the National Development Bank of Palau (NDBP) through the Disaster Resilient Clean Energy Financing Project, an ADB program funded by the Government of Japan.
The project was launched in April this year, with the first home system installed and commissioned at the end of July. Currently, twelve (12) home systems are commissioned, and many are installed, waiting to be commissioned, reported Karla West of the National Development Bank of Palau.
Another homeowner, Marissa Renguul was ecstatic about the savings they saw after the first month of using the home solar energy system. “It is really really nice to see the savings,” said Marissa after seeing that power bill drop from $200 a month to $21.95. “Even after we pay our home solar loan, we still have extra savings of around $50.”
“I am quite pleased with the company that installed our system because they came and assessed our roof, the tilt, everything and came up with the best design so that our solar panels take full advantage of the sun,” added Marissa, attributing that to the savings gained.
The Renguul family said that they are working to retire the loan quickly so that they can gain full savings from their home solar system.
Claire Harvey, President of the Palau National Development Bank, cautioned that the amount of savings differs from family to family depending on their home situation and cloud coverage.
The home solar system project contributes toward Palau’s clean energy goal.
“The program’s main objectives,” said Claire Harvey, President of the National Development Bank of Palau, “are to provide affordable solar home systems to Palauan homeowners through a low-cost loan.”
The home solar systems are still available, and interested persons are encouraged to contact the National Development Bank of Palau for more information.