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Once awareness is created, it is important to enable market accessibility to costumers by means of appropriate financing schemes by financial institutions. This can be done for solar water heaters through credit unions and for photovoltaic systems through commercial banks. The UNIDO project CSFP with credit unions is a very good attempt, a trusted and accepted financing source, to offer loans under better conditions for lower income classes. A similar project should be introduced for the financing of photovoltaic installations with commercial banks. It is essential that the banks get familiar with financing photovoltaic systems and reduce their risk perception and reluctance. Low interest rates and adequate financing periods are required. Regarding photovoltaic technologies, the basic market requirement, even before the financing, is to secure the grid connection by the utility. Only with a grid connection, photovoltaic technologies can compete on a commercial level. This is working well in the French territories, like Martinique for example. There exist a certain feed-in tariff similar to France, possible to governmental regulations and the necessary economies of scale. In small independent islands such feed-in-tariffs like in Europe would not work. To realize this, the already very high electricity rates would have to be increased even further just to cover the costs. Hence, other solutions must be found. The utility in Grenada offered a 1:1 net-metering which is very positive for the customers but at the same time means losses for the utility. The best way to calculate the price for renewable energy would be based on avoided cost, like it was done in Barbados. So the utility would pay for the generated electricity but not lose their margins for transmission and distribution. A disadvantage of the Barbadian solution is the linkage to the fuel charge, which is a fluctuating value, illustrated in Figure 16 under chapter 4.2.2. For financing programs, fixed values would offer a better calculation basis. It is important that the utilities learn from small pilot projects and become confident with the photovoltaic technology. Tariffs and prices should be well considered and calculated so as to not penalize any party involved. Therefore, it is necessary to closely cooperate with the private sector, as it was shown in the Grenada case study. Due to the collaboration of photovoltaic distributors and utility, an interconnection policy for grid connection was developed, even without any forces or regulations from the government. Nevertheless, this might not happen that easily on other islands. Photovoltaic technologies are an intermittent supply source and are not economically viable for the utilities yet. Economies of scale still favour fossil fuels but on the other hand electric Viability in Terms of Sustainable Development 81PDF Image | CARIBBEAN RENEWABLE ENERGY DEVELOPMENT PROGRAMME
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