Renewable energy firm sees dramatic uptick in energy systems

As of Wednesday, August 7, 2013

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

A RENEWABLE energy firm has seen a dramatic uptick in interest in energy systems over the past two to three months, a company executive telling Tribune Business “we’ve definitely seen an increase in activity”.

Guilden Gilbert, vice-president of Alternative Power Solutions (APS) Bahamas, told Tribune Business that he expected the trend to continue.

“We have seen some uptick in interest. We actually have a couple of installations going on right now. We have quoted a few others with the clients saying that they were looking at moving forward in the next month or so. We have definitely seen an increase in activity. As far as a percentage it’s difficult to say how much of an increase in activity we have seen. We have four installations going on and those four installation combined are probably close to 16 kilowatts.”

Mr Gilbert added: “I think a lot of people are looking at long term energy independence. Once the system pays for itself the cost of energy is free. In the last two to there months we have seen an uptick in interest. We expect the trend to continue as people become more aware and have a better understanding of the technology and are willing to make the capital investment. There is constant talk about renewables and I think that in itself has peaked people’s interest and I think generally people are looking at what they can do to be self sufficient.”

The company earlier this year achieved an industry first through its financing tie-up with Commonwealth Bank, a move designed to overcome financing issues, perhaps the biggest to the industry’s expansion. Mr Gilbert said however: “Some of the clients aren’t looking at using the financing. We have had one or two that are using the financing but a number of people are just financing it themselves so I wouldn’t say that the financing arrangement has attributed directly to the growth but it’s probably increased the interest.” Mr Gilbert said that the firm was attracting business not only from New Providence but the out islands as well.