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6.2 Barriers Hindering the Market Development Photovoltaic applications are still a very expensive technology with very high up-front costs which is a burden for many people. Besides, system costs in the Caribbean are generally higher due to shipping, insurance and eventually taxes during the importation of the technology. Middle income people cannot afford to get a system and costs need to be further decreased, according to Auguste (pers. comm. 27 April 2010). He also mentioned that the panels should be assembled locally to reduce the myth that photovoltaic technology has something to do with magic, similar to what was done with the solar water heaters – creating a local market. To overcome this bottleneck of high up-front costs, it requires a well established financing scheme, which is not satisfactorily available yet. It is very easy to get a loan for a car but not for a photovoltaic system (Burkhardt, D., Auguste pers. comm. 27 April 2010). Banks are very familiar with vehicle loans because of long experiences but are very hesitant regarding loans for photovoltaic systems. They do not have the confidence and do not know about the risks (Auguste pers. comm. 27 April 2010). For bigger systems and with the purpose to save electricity costs, cooperation of the utilities is needed to realize grid connection. In most cases, utilities are monopolies and this situation prevents the electricity supply of independent power plants to the national grid. Contracts were made a long time ago and for long periods, which makes it very difficult to introduce new technologies (Ministry of Physical Development Environment 2001). Reduced costs and the ability to connect to the grid would be a massive move towards photovoltaic installations, according to Preville (pers. comm. 5 May 2010). The dependency on diesel and the fuel adjustments when the prices are going up are not a pleasure for the customers nor for the utility because 99% of the utility staff is national and also affected, according to Hosein (pers. comm. 6 May 2010), Executive Director of CARILEC. This means utilities are also looking for diversification, but to do this with renewable energy is just too cost intensive. According to Hosein, neither the investor owned Caribbean utilities nor the government owned utilities have renewable energy shares. The only islands are the Dutch or French territories, where there are totally different conditions. Cost effective are renewable energies only for rural diversification in remote areas, and in case of grid connection, the costs for renewable Photovoltaic Framework 68PDF Image | CARIBBEAN RENEWABLE ENERGY DEVELOPMENT PROGRAMME
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