Renewable energy investor Ralph “Bizzy” Williams has devised a plan he is confident will put all Barbadian households on the road to free electricity.
But the founder and chairman of Williams Industries Inc. stressed in order for it to succeed, his idea must have the support of the Barbados Light & Power Co. Ltd (BL&P), commercial banks and the Fair Trading Commission (FTC).
The entrepreneur, whose group includes photovoltaic developer Williams Solar, said his plan involved every homeowner investing in photovoltaic (PV) panels to generate electricity.
“My proposal would enable homeowners to borrow money from banks at reasonable interest rates by removing all risk from the banks. It would also mobilise the savings of Barbadians to reduce the island’s dependence on imported oil,” he said. (SC)
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