SOLAR JAMAICA
Whether to combat monopoly power or simply make small incremental improvements to individual properties' energy efficiency, a thriving solar market has sprung up in Jamaica in the past five years.
Sofos is a Spanish company based near Barcelona that started working on renewable energy in 2004. From 2004-2008, the market grew exponentially in Spain. We also enjoyed government subsidization, which allowed us to thrive. After 2008, the government cut these subsidies and the solar market declined drastically. At this point, we decided to expand into new product lines and expand internationally. Many Spanish solar companies were expanding into different markets, and we saw a great deal of opportunity in the Caribbean. We originally expanded into the Dominican Republic because we had some links there. While there, one of our clients in the hospitality sector asked us to study which of its Caribbean hotels would be the most feasible in terms of installing solar. After studying the different markets, we realized that Jamaica offered the most benefits. This was one of the main avenues through which we discovered Jamaica and one of the main reasons we are here today. Since then we have expanded significantly.
I saw an opportunity to start Solar Buzz Jamaica in order to go up against a monopoly, the Jamaica Public Service Company Limited (JPS). The venture was also about my desire to help the environment. Around 2010, energy prices were out of control in Jamaica; oil was at USD100 a barrel, and the national grid here had been neglected for a long time. There was an energy crisis, and everyone was trying to find solutions. I thought people would embrace solar power, but we ran up against a great deal of resistance due to the JPS monopoly, limited public knowledge, and high costs. Initially, we had to focus on energy efficiency by supplying energy monitors that show users' real-time energy usage. Solar Buzz got the exclusive distributorship for the Owl energy monitors, which we placed in homes and businesses. That along with media coverage put us on the map. By 2014, the Development Bank of Jamaica (DBJ) came along with financing and more people started using solar power.
New Leaf Power is a pioneering green energy company known for innovation and leadership. We are advocates for energy reform and new legislation. Although we are a small, new company, we have made a difference in exposing Jamaica to new ways of doing business and financing renewable energy and energy-efficiency projects. We have also broadened the kinds of clean air technologies that should be considered in Jamaica. These are mainly solar, wind, and hydro; however, we have expanded that to include geothermal and ocean thermal in particular. We are among a few clean tech companies in the Caribbean that are doing exhaustive work in the ocean thermal space. That is a big part of the blue economy, which is huge, and Jamaica is an archipelago with a great maritime tradition. There are several areas in which we have been pioneers. One is advocating for new legislation and programs to liberalize environmental law to boost competition. We provide a lot of leadership there. And in terms of innovation, we have brought new technology that is being proven around the world.
SOLAR JAMAICA
TABLE OF CONTENTS
Interview
Most Honourable Andrew Holness, Prime Minister, Jamaica
TBY talks to the Most Honourable Andrew Holness, Prime Minister of Jamaica, on efforts to foster sustainable and inclusive growth, the main challenges ahead for the nation, and its key successes in improving the business environment.
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Diane Edwards, President, Trade & Investment Jamaica (JAMPRO)
TBY talks to Diane Edwards, President of Trade & Investment Jamaica (JAMPRO), on making investments throughout the whole value chain, becoming a regional distribution hub, and boosting niche agricultural output.
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Courtney O. Campbell, President & CEO, Victoria Mutual
TBY talks to Courtney O. Campbell, President & CEO of Victoria Mutual, on the origins of financial inclusion in Jamaica, helping people get a start on their property journey, and assisting young businesses to exploit a positive business environment.
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Raymond Walker, Founder, Chairman & CEO , Caribbean Assurance Brokers Ltd. (CAB)
TBY talks to Raymond Walker, Founder, Chairman & CEO of Caribbean Assurance Brokers Ltd. (CAB), on fighting for its clients, using environmentally sound methods to drive down costs, and continuously driving innovation.
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Emanuel DaRosa,, President & CEO, Jamaica Public Services (JPS)
TBY talks to Emanuel DaRosa, President & CEO of Jamaica Public Services (JPS), on pursuing common goals in the best possible way, utilizing Jamaica's most abundant natural resources, and satisfying half of Jamaica's energy needs through renewables.
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Winston Watson, Group General Manager, Petroleum Corporation of Jamaica (PCJ)
TBY talks to Winston Watson, Group General Manager of Petroleum Corporation of Jamaica (PCJ), on keeping a hand in both green and black energy, helping the government reach its 2030 Energy Vision targets, and educating people on the importance of conservation.
read articleFocus: LNG Investments
Light My Fire Jamaica
The Jamaican government is pushing private investment in liquefied natural gas (LNG) to provide cheaper and cleaner energy to households and businesses. Through partnerships with local and international companies, New Fortress Energy is leading the way to ignite this sector.
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Gordon Shirley, President & CEO, Port Authority of Jamaica (PAJ)
TBY talks to Gordon Shirley, President & CEO of the Port Authority of Jamaica (PAJ), on the country's developing role as a logistics hub, attracting more cruise ships, and his outlook for the economy at large.
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Fritz Pinnock, President, Caribbean Maritime University
TBY talks to Fritz Pinnock, President of Caribbean Maritime University, on capitalizing on the rising power of the global south, customizing goods before they reach the final consumer, and leveraging Jamaica's geostrategic location to create added value.
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Winston Adams, JP, Executive Chairman, University of the Commonwealth Caribbean (UCC)
TBY talks to Winston Adams, JP, Executive Chairman of the University of the Commonwealth Caribbean (UCC), on the university's illustrious history, its upcoming strategies, and Caribbean Knowledge City.
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Michael Williams, Acting Executive Director , Mona School of Business and Management
TBY talks to Michael Williams, Acting Executive Director of Mona School of Business and Management, on maintaining quality across its programs, its achievements in the Caribbean, and the school's research-based approach.
read articleFocus: Downtown Kingston Revitalization
Drinking from the Fountain of Youth
Although the subject of much talk, downtown Kingston has been relatively neglected for many years while surrounding areas of the city attracted more real estate developments. A series of public and private investments indicate that the trend is finally reversing.
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Timothée F. Delebarre, Country Manager, VINCI Construction Grands Projets (VCGP)
TBY talks to Timothée F. Delebarre, Country Manager of VINCI Construction Grands Projets (VCGP), on diversifying their business lines, expanding Kingston's Port, and developing innovative financing mechanisms.
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Dittie Guise, General Manager, Montego Bay Convention Centre (MBCC)
TBY talks to the late Dittie Guise, General Manager of Montego Bay Convention Centre (MBCC), on marketing the convention center, creating an integrated tourist experience, and preparing for more events and visitors.
read articleFocus: Linking Tourism
Lifting All Boats in the Rising Tide
Although significantly contributing to the economy, tourism in Jamaica suffers from an inadequate level of linkage with other sectors. The government, in partnership with private actors, is launching a number of initiatives to ensure that international tourists meet local businesses.
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Natalie St. Louis, Founder, CEO & Managing Director, Strategic Konnections & Management Services Limited
TBY talks to Natalie St. Louis, Founder, CEO & Managing Director of Strategic Konnections & Management Services Limited, on working with businesses to further their goals, the importance of engaging with consultants, and goals for the coming year.
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