It seems that the Year of The Dragon
is also an expansionist year for the JCCUL (Jamaica Co-Operative Credit Union
League). They have dipped their hands in partnership with Mozido Jamaica
Limited to offer e-payment solutions based on smartphones called JCUES (Jamaica Credit Union e-Payment Services) as described in the my blog article entitled “JCCUL JCUES is put on
hold by the BOJ - ePayment setback means Mozido has been Bewitched”.
But in a sign that they are down but
not out, the C&WJCCU (Cable and Wireless Jamaica Co-Operative Credit
Union), a member of the JCCU, has decided to forge ahead into yet another
futuristic and fast-growing business area. This is the rapidly expanding field
of loans for homeowners to purchase Alternative Energy Equipment as stated in
the article “Lenders see business
potential in Energy Lines for homes”, published Sunday April 1st 2012 by Avia
Collander, The Jamaica Gleaner.
Truly, the brave may fall but never
yield, Kingston College Style!!
This time unlike e-payments, it’s a
proven field already populated with other lending institutions such as the
Capital and Credit Financial Group and the DBJ (Development Bank of Jamaica)
which offer Alternative Energy loans of between JA$250,000 to JA$5 million via
its affiliation with:
1. National People’s Co-Operative Bank
2. National EX-IM (Export-Import) Bank,
3. Jamaica Money Market Brokers
4. Capital Credit Merchant Bank
These loans are for the purchase of
Solar Water Heaters to full blown Solar Panel and Wind Turbine Systems to power
the entire house, mainly the refrigerators and the air conditioning unit as
concluded in my blog article entitled “Dr. Taylor's states
Global Warming increasing Jamaica's Energy Bill - Vybz Kartel's Summertime
Soylent Green”.
At ten (10) years to repay a JA$5
million Alternative Energy Loan, this is effectively a mortgage for Solar Power
Equiptment with a fixed monthly repayment for the life of the loan replacing
your fluctuating Electricity Bill.
The JCCUL failed in their bid to
effectively introduce a service that would have heralded the coming of a
Cashless Society in Jamaica based on mobile phone transactions, the JCCUL has
yet to receive any clear word from the BOJ (Bank of Jamaica) as noted in the
article “JCCUL’s e-payment service
still in Limbo”,
published April 8th 2012, The Jamaica Gleaner.
Their long term aim is to tap into
the lucrative Remittance field, now set for boom time as stated in the article “Remittance Companies
Bullish As Transfers Hit New Record” published Sunday March 4, 2012 by Avia Colander, The Jamaica Gleaner.
This despite at the last minute
converting their Thursday March 15th 2012AD product launch into a
public sensitization with regards to the potential of doing financial
transactions using your mobile phone as stated in the article “JCCUL Converts Epayment
Launch To Product Sensitization”, published Sunday March
18, 2012, The Jamaica Gleaner.
Thus this new product focus by
another JCCUL into the lucrative Alternative Energy Sector is an indication
that the JCCUL sees potential in the disenchantment by the Jamaican Public with
the slow pace of Jamaica’s move to Energy Sector Liberalization and cheaper
electricity rates as mentioned in my blog article entitled “Senator Phillip Paulwell
chooses LNG over Coal - Power Engineers in Stephen King's Graveyard Shift”.
It may also mark the beginning,
albeit slow, of yet another foray for the JCCU into financially viable
territory based on mortgage styled loans somewhat similar to what Google is
doing as described in the article “Google: Rent your Solar panels from us”,
published September 28 2011 10:55 AM PDT by Candace Lombardi, CNET News - Green Tech and “Google helping homeowners get Solar Power with $75 million
investment”, published September 28 2011 by Jeff Hughes, DigitalTrends.
Google, in partnership with Californian VC (Venture Capitalist) Clean Power
Finance is assisting homeowners to install Solar Panels and Wind Turbines
at Residential Customers via a US$850 million
financial loan arrangement as described in my blog article entitled “Google invests US$75
million in Residential Solar PUC - Aliens in future Energy Market Shakeup”.
This may be an Alternative means by
which Jamaican homeowners, can, on an individual basis, also achieve Energy
Sector Liberalization for themselves in much the same way Mr. Chong was able to
despite the lack of waivers for Alternative Energy equiptment as described in
my blog article entitled “Lack of Waivers for
Expensive Alternative Energy Gear - Mr. Paul Chong's Adoption Contradiction”.
This as they have all the collateral
they need, their own property and the investment, albeit long term, makes them
totally independent of Jamaica’s sole Power Utility Company and thus one less bill
to worry about.
Even more interesting, is the
possibility that Telecom Provider Digicel
may begin to diversify into Alternative Energy in a bid to reduce the cost of
their usage of electricity post-CLARO Jamaica acquisition as noted in my Geezam blog
article entitled “Digicel Jamaica’s
Alternative Energy Future – Increased Electricity Bills and Energy Sector
Opportunities collide”.
If this is possible for Digicel in the long term, the same may be the route
that the JCCUL may pursue as well: from lending to procuring the equiptment
themselves.
At that point in the future,
possibly about 2015AD, they would effectively become a Distributed AEPP
(Alternative Energy Power Provider) for Residential Customers, putting the
JCCUL and banks in direct competition with JPS Co (Jamaica Public Service
Company). Customers could get power audits done free of cost and then sign to
contracts agreeing to pay a Flat Rate Utility Bill in exchange for having the
Solar and Wind Turbine equiptment hosted free of cost on their premises.
It’s the same concept as a loan, but
instead of paying for the equipment over ten (10), you pay for the electricity
service at a guaranteed fixed rate on your house. You don’t own the equiptment,
merely rent it, as a rental fee would be a part of the utility bill that would
go towards the cost of the equipment. Again like the partnership with Mozido
Jamaica Limited for e-payment service JCUES, this could also be done in
partnership with another local or FDI (Foreign Direct Investor).
Once such partner could be
Canadian-owned Solarmon Energy Corp, which has plans to set up a very large
Solar Installation here in Jamaica as stated in the my Geezam blog
article entitled “Solamon Energy
Corporation to build Caribbean’s Largest Solar Plant – Jamaica to get a Green
Energy Boost”
and may be looking for a financial partner that has people at its heart
Another such partner could be with
American-based Green Energy RG, which may be currently looking for a financial
partners to retail its line of Solar Powered gear made here in Jamaica as
stated in my Geezam blog article entitled “Green RG in Jamaica to
make Solar Power Gear”.
Interestingly both of them have an
interest to use Jamaica in a push towards Latin America as surmised my blog article entitled “Solamon Energy Corp &
Green RG invest in Jamaica's Alternative Energy Future - Let the Cheaper Energy
Hunger Games for Latin America Begin”., much in the same way that Mozido Jamaica has plans to
eventually expand beyond the shored of Jamaica to the fast growing economies of
Latin America.
Even better, All-Electric
Vehicle Maker Oregon-based Porteon is coming to Jamaica to manufacture and sell
their brand of lithium-Ion battery-powered vehicle as described in the my Geezam blog
article entitled “Oregon-based Porteon to
assemble All-Electric Vehicles in Jamaica – One By One” and my blog article entitled “Porteon to manufacture
All-Electric Vehicles in St. Lucia - Strengthening CARICOM ties with Jamaican
Skilled Labour”.
This means that eventually Jamaicans
exchanging their Gasoline and Diesel Vehicles for an All-Electric variety may
become commonplace as predicted in my blog article entitled “Alternative Energy and
Range Extender Technology - Jamaica to Rhaatid”. So too may the upgrading of one’s
vehicle to run on LPG (Liquid Petroleum Gas) as opined in my Geezam blog
article entitled “Auto LPG as a Motor
Vehicle Fuel”.
Yet another branch in the ever
expanding tree of Alternative Energy in Jamaica for the JCCUL and Banks to
invest as the Jamaican Economy slowly recovers!
A potential match made in heaven for JCCUL following on the example of C&WJCCU and the DBJ, heralding Money, Money, Money in the Distributed AEPP (Alternative Energy Power Plant) World.
More on this interesting development
as it unfolds……
