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What is PV Technology?

Solar photovoltaic (PV) technology uses special cells to convert solar radiation (light) into electricity. The first solar photovoltaic (PV) module was built by Bell Laboratories in 1954. By the 1960s, the space industry began to make the first serious use of this technology to provide power aboard spacecrafts orbiting the earth.

Through the space programme, the technology advanced. Its reliability and durability was established and the cost of production began to decline. Eventually, solar photovoltaic (PV) technology gained recognition as a source of power for non-space applications, that is, right here on earth.

Today, this technology has become affordable and serves as a means of generating electricity for buildings, powering electrical appliances such as computers, washing machines, radios, TV, light bulbs, etc.

For more information, please download Solar Photovoltaic Energy: using energy from the sun to produce electricity.

About the Financial Rebate Scheme

The GOS-UNDP-GEF Grid Connected Rooftop PV Systems Project is a joint effort between the Government of Seychelles (GOS), the United Nations Development Programme (UNDP) and the Global Environment Facility (GEF). The project seeks to kick-start the PV market in Seychelles. One of the major activities being implemented under the GOS-UNDP-GEF PV project is the Financial Rebate Scheme.

The Financial Rebate Scheme is a mechanism designed to remove financial barriers that restrict adoption of PV by two major markets being tackled by the project: households and small to medium enterprises (SMEs). In 2014, the Financial Rebate Scheme offered a 35% rebate (based on the average cost of PV installed in Seychelles) to all homeowners for the first 3kWp of a system installed onto the rooftops of their homes. In 2015, this value was reduced to 25% as the average cost of a PV installation dropped. We also saw the introduction of a 15% Financial Rebate for commercial premises with installations up to 15kWp.

The rebate value is set to reduce significantly over the next couple of years, as the cost of installing a solar photovoltaic (PV) system continues to drop. It is, therefore, advisable to apply NOW. as applications are attended to on a first come, first serve basis.

For more information, please download Solar Photovoltaic Energy: using energy from the sun to produce electricity.

How Will I Benefit?

Solar photovoltaic (PV) technology is emerging as a major power source, due to its numerous environmental and economic benefits and its proven reliability. This technology allows you to use available roof-space on your home to generate electricity to offset your own electrical consumption. The benefit is the avoided cost of electricity, which contributes towards paying back your initial investment. Once the installation costs is paid, you will increase your personal cash-flow.

Avoided costs stand to increase as tariffs will rise over the next few years. At the current rate, the Financial Rebate Scheme allows homeowners to offset approximately Rs. 25,000 from the initial cost of the first 3kWp of a system installed at their home. This increases the return on investment and also shortens the payback period of the system. Even if you don’t have enough capital to invest outright in a scheme, you may have sufficient savings or liquidity to be able to service a loan taken to purchase the system. Please ask your bank manager about the Seychelles Energy Efficiency and Renewable Energy Programme (SEEREP) loan scheme.

Similarly, commercial premises benefit from a 15% rebate. This will allow business owners to offset up to Rs. 86,000 from the initial cost of the first 15kWp of a system installed at their business premises. Again, this increases the return on investment and also shortens the payback period of the system. In some cases, business owners may find themselves with sufficient savings to service a loan taken to purchase the system. Please ask your bank manager about the Small and Medium Enterprise (SME) loan scheme.

For more information, please download Solar Photovoltaic Energy: using energy from the sun to produce electricity.