Financing

Solar and wind are today the cheapest forms of energy. Energy efficiency products such as the adoption of solar water heaters and the installation of LED lights also offers payback. Overall, green energy and energy saving now benefit from favorable economic fundamentals.

However, they require important upfront financing. The country must therefore prioritize its energy investment in order to build an economy relying on clean and cheap energy. It must focus its financial resources and shift its investment priorities to expand solar, wind and hydro power which produce energy locally instead of plants that consume imported-fuel and are a constant drain on our balance of payments.

Reformed pricing structures must also reward investments that improve overall system efficiency (for example for managing loads to reduce peak demand), engage the private sector to invest in clean energy opportunities and place clean and distributed energy at the core of the new electricity model.

Financing and incentives to lower the upfront costs must therefore be substantially increased in order to empower large-scale, self-sustaining, private sector-driven clean energy markets. The policy must also focus on ensuring that no one is left out of the clean energy transition. Low income and rural communities particularly must receive the necessary support to build their micro-grids and reach a high energy autonomy.

Finally international institutions favor financing sustainable energy programs over fossil fuel. They can provide competitive financing and insurance.