First solar project in Angaur completed; Palau company eyes more installations in other island states
- Admin
- 6 hours ago
- 2 min read
By Pacific Island Times News Staff
Koror-- Palau Solar Corp. has completed its first solar panel installation at the governor's house on Angaur Island, with more installations set to follow this year as the nation seeks to pick up speed on its shift to green energy.
The Angaur project, funded through Palau Solar’s strategic partnership with the National Development Bank of Palau, is part of the national initiative to expand solar installations beyond Koror.
"The National Development Bank of Palau shares our vision of an energy-independent Palau," said Greg Decherong, honorary president of Palau Solar, headquarted in Airai State.
The national bank offers competitive, accessible loan products to finance residential and commercial customers, while Palau Solar provides the material and installations throughout the Pacific nation, which has set a goal is to have 100 percent renewable capacity by 2050.
"Their financing program allows us to deploy installations, keeping costs manageable for customers. Together, we are proving that solar is not only clean but financially smart," Decherong said.
Like all other small island states, Palau is seeking to reduce its dependence on fossil fuel.
In July 2023, officials announced that Palau reached the first 20 percent of its renewable energy goal when the Solar Pacific Energy Corp. connected to the Palau Public Utilities Corp.’s power grid.
Palau Solar said the Angaur project, collaborated with the state government, is
particularly important considering that outer island residents face some of the highest energy costs and most unreliable electric supply.
"Getting solar panels over to the island was challenging, but is helping ensure that all Palauans can enjoy cleaner, greener and cheaper energy," Palau Solar said in a press release.
Palau Solar plans to continue its phased expansion to other states throughout the remainder of the year, and have also recently launched solar hot water systems for homes and businesses.
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On Tuesday, Palau Solar hosted a community event in Ngeremlengui State to educate residents on the benefits of solar power, demonstrate available financing through NDBP, and sign up interested homeowners for site assessments and installations.
"Whether you live in Koror, Angaur, or Ngeremlengui, you deserve access to affordable, reliable electricity. Palau Solar is delivering to every corner of the nation," said Ross Waddington, CEO of Palau Solar.
Palau's power rates soared in recent months due to the ongoing U.S.-Iran conflict.
"Solar offers a way out. Once installed, systems lock in lower energy costs and insulate families from volatile global fuel markets," Palau Solar said.
:Once the solar loan is repaid, customers enjoy free energy from their panels, outside of PPUC’s grid connection charges. The option to add battery storage means the captured energy can be used night and day," it added.
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