Commercial businesses can save up to 80% on their electricity bills from the Jamaica Public Service by switching to solar energy.
Chief Executive Officer at Solar Buzz Jamaica, Jason Robinson, says a properly designed and installed solar system will be able to supplement electricity to businesses helping to reduce costs.
Solar Buzz is an energy focused on procuring, installing and constructing solar systems for both residential and commercial customers. The company also performs energy audits, so clients know how much their particular energy system setup will cost.
Speaking on MoneyMovesJa with Kalilah Reynolds, Robinson explained that while converting to solar energy is a significant upfront investment, businesses can see a return on investment within three years.
“People always want to know an initial rough cost before they go forward with the site visit and installation,” he said.
“We use interval data, which is 15-minute usage from your meter over 24 hours over a 12-month period to determine the business’s load profile. It allows us to separate the day load from the night load, so we can be extremely accurate in designing the system,” he added.
The CEO noted that battery storage for commercial businesses tends to be more expensive because their energy loads have usually heavier.
“So try to offset 100% of their day load and they sip off the grid at night because they’re usually closed, with some exceptions,” Robinson said.
“24-hour clients such as hotels, restaurants or anything with cold storage, can expect to save 30-35% on their overall bill without the batteries. But clients that are 8 am- 5 pm or 9 am- 5 pm can offset 70-80% of their JPS bill without batteries,” he added.
Robinson noted that for commercial businesses, solar energy will not completely replace the need for a connection to JPS’s grid for electricity.
“A commercial solar system is not instead of JPS, it supplements JPS from day to night and based on the weather. If it’s more cloudy then it’ll take more from JPS,” he explained.
However, he said the reduced cost of electricity from JPS will pay back for the solar system in three years.
“Or if you get out a loan, you’re cash flow positive from day one. That means that your loan payment is less than what your JPS bill was,” he said.
Robinson said his company works hand in hand with EXIM Bank and other financial institutions to find the best financing options for small and medium businesses. He said the company provides a detailed breakdown of the expected energy costs and requirements so that the institution can determine whether the business or individual qualifies for a loan.
