Ross Sheil, Staff Reporter
MIKAEL OERBEKKE, president of the Jamaican Solar Water Heating Association, is advising Jamaicans to save on their light bills by taking up the National Housing Trust's new Solar Water Heater Loan.
The loan, which is valued at up to $100,000, becomes available on April 1. Mr. Oerbekke believes the loan makes good financial sense, given that the average 45-gallon heater costs $75,000, including installation, and can be recouped after two or three years.
"Everyone was complaining that nothing was happening and now, finally, the Government has taken the step. Given the cost of the loan and the heater in relation to the savings, I think there is no reason for people not to take up the loan," he said.
He anticipated that the loan may raise demand for solar water heaters by 20 to 25 per cent.
Solar water heater units are expected to last for 15 years or more.
