Project Title:  Energy Efficiency Home Loans

Project Location:  Koror and Airai States

Project Duration:  3 years ending 2011

Project Cost: USD 500K

Project Summary:

The project focuses on the promotion of energy efficiency and investment in new energy efficient homes. The project titled Energy Efficiency Subsidy Programme (EESP) is managed by the National Development Bank (NDBP) of Palau. The programme expects a 15% reduction in electricity consumption in new homes and has spent extensive effort in raising awareness of the programme to the people of Palau.

Project Development:

A program manager has been recruited and Energy Efficiency Measures for the homes determined. So far a total of 32 applications (4 for model homes and 28 for energy efficient standard homes) have been received. Two energy model homes have been completed and construction underway for another two. In addition 6 energy efficient standard homes are under construction with 22 more applications being processed.

Note:

  • Model homes receive a subsidy to a maximum of US$10K with the agreement that the homes will be used to showcase the program for the next 3 years.
  • Energy efficient standard homes receive subsidies to a maximum of US$6K.

Popularity is soaring for the programme and the EESP Steering Committee has received queries and interest from the Palau Housing Authority (PHA) for collaboration. A Memorandum of Understanding between NDBP and PHA is currently being drafted.

Awareness for the programme has been extensive. A Village outreach program was launched in April to reach out to 16 states in the country.