ACTIVITIES

Grenada is a Small Island Developing State of 344 km2 with a population of 89,000. As most island nations of the Caribbean, it faces several challenges associated with the generation and use of energy. Grenada’s sole source of energy is Petroleum. Given that it is not an oil producer, it relies exclusively on the combustion of diesel fuel for electricity generation. Middle and low income households utilize electric hot water heating systems of 3 to 6 kW to heat their water for one hour or more per day. Given the high rates paid per kWh on the island, heating water with electricity is a very costly practice. Solar Hot Water Systems offer a less costly solution to supply this important basic need.

The CSFP program promotes the use of Solar Hot Water Systems through: (1) a training program for lending officers, (2) a consumer awareness campaign, and (3) a pilot lending operation. 

Training Program for Lending Officers

With the technical assistance of ESG, the Grenada Co-operative Credit Union (PSCCU) will execute a training program on issues relevant to financing SHWS for a select set of lending officers in the credit unions in Grenada. Training sessions are structured to train finance professionals in credit unions in methods for analyzing and constructing loans for union members to purchase SHWS. 

Consumer Awareness Campaign

The lack of awareness among credit union members is a major impediment to the development of the SHWS market. The Credit Union League will undertake a set of communications and outreach activities that constitute a campaign designed to increase consumer awareness of the benefits of SHWS. The campaign will target credit union customers

Pilot Lending Operation

A pilot lending operation has been structured to support the purchase of SHWS by the credit union members of Grenada. Under the pilot lending operation, a low-cost, long-term loan of US$ 65,000.00 will be issued to the Grenada Co-operative League by the Energy and Climate Change Division through the Trust for the Americas.