PROJECTS

Fund Financing Energy Efficiency and Small-scale Renewable Generation, Barbados

The problem

The cost of electricity in Barbados was too high, with nearly 90 percent of energy consumed coming from imported oil. The fuel import bill was nearly 6 percent of GDP. Distributed solar generation and energy-efficiency technologies could reduce electricity costs and fuel imports, but lack of financing options made these unaffordable for most households and businesses.

How we helped

Castalia designed the Energy Smart Fund to help households and businesses invest in energy efficiency measure, solar water heaters, and small solar PV systems. We assessed the barriers to adoption of commercially and economically viable technologies and found that financing was a major barrier. We designed the Fund as a financing facility to overcome this barrier by working in partnership with a network of accredited installers and retailers. We developed the operating manual for the fund and assisted it in becoming fully operational.

Impact

The Energy Smart Fund has helped private businesses and households implement renewable energy and energy efficiency solutions since 2011. So far, the Fund has disbursed US$10.6 million through a combination of financial instruments and technical assistance, financing 1.9MW of renewable energy installed and an estimated 4GWh of energy saved annually, a cost savings of US$1.4 million. The Inter-American Development Bank and the Government are replenishing the Fund, planning to make energy services companies eligible to take up loans directly on behalf of their client homes and businesses.

Our team

David Ehrhardt

David Ehrhardt

Chief Executive
Gianmarco Servetti

Gianmarco Servetti

Practice Leader

How can we help you?

How can we help you?

WASHINGTON, DC
+1 (202) 466-6790
1747 Pennsylvania Avenue NW, Suite 1200
United States of America

SYDNEY
+61 (2) 9231 6862
Level 1 Kyle House, 27-31 Macquarie Place
Australia

AUCKLAND
+64 (4) 913 2800
74D France Street, Newton South
New Zealand

WELLINGTON
+64 (4) 913 2800
Level 2, 88 The Terrace
New Zealand

PARIS
+33 (1) 73 44 26 97
6 Rue Duret
France

BOGOTÁ
+57 (1) 508 5794
Calle 81 #11-08, Piso 5, Oficina 5-127
Colombia

Thinking for a better world.

Castalia-logo-negative-2col
PROJECTS          NEWS         CONTACT
© Copyright 2019 Castalia. All rights reserved.  Terms | Privacy | Credits | Sitemap

WASHINGTON, DC
+1 (202) 466-6790
1747 Pennsylvania Avenue NW, Suite 1200
United States of America

SYDNEY
+61 (2) 9231 6862
Level 1 Kyle House, 27-31 Macquarie Place
Australia

AUCKLAND
+64 (4) 913 2800
74D France Street, Newton South
New Zealand

WELLINGTON
+64 (4) 913 2800
Level 2, 88 The Terrace
New Zealand

PARIS
+33 (1) 73 44 26 97
6 Rue Duret
France

BOGOTÁ
+57 (1) 508 5794
Calle 81 #11-08, Piso 5, Oficina 5-127
Colombia

Thinking for a better world.

Castalia-logo-negative-2col
PROJECTS          NEWS         CONTACT
© Copyright 2019 Castalia. All rights reserved.
Terms | Privacy | Credits | Sitemap