Advert

It pays to invest in renewable energy

Malta is blessed with constant and abundant solar radiation pretty much all year round. This newspaper recently reported that 2,800 households of the projected 4,000 have applied to benefit from the solar water heater rebate made available. Some have lamented the uptake, however, in a year engulfed in recession, of this annual addition in comparison to the current market penetration of approximately 15,000 units or so would be a brighter perspective of the current reality.

The reasons might be various. If one were to consider the 50 per cent rebate up to €460 given in return for the total expenditure undertaken for a solar water heater with a capacity to sustain the needs for a household, it is in actual fact quite a substantial sum. However, when the analysis is taken a step further to consider the three- to four-year payback period, in other words the number of years necessary to recover the initial investment made, then this grant becomes all the more attractive.

The ever increasing price of oil, an issue which will ostensibly persist as long as the world's natural resources are finite, coupled with the direct impact this has on the utility bills of any household in any country relying on energy produced through natural resources, should make the installation of a solar water heater a logical and straightforward decision.

However, this is not necessarily always the case. Many would agree that the percentage rebate being made available by the government is substantial and conducive to persuading any household decision-maker to enrol and benefit accordingly. But, given that the financial aspect is not to blame, what other reasons could justify the slower market penetration in Malta?

It is highly improbable that it is due to lack of awareness, as efforts by public entities and NGOs alike have perhaps inundated the public with information on benefits gained from renewable energy resources. Not to mention the regular articles on local printed press. Sheer reluctance and unwillingness to adopt such systems could perhaps constitute one of the reasons why the majority remain hesitant to respond. A different viewpoint could, however, relate to solar "availability", given the ever increasing apartment-type households with limited roof space to accommodate four or even more, solar water heater units. The difficulty could possibly be addressed in a similar way to the call made for private companies to finance, supply, install, operate and maintain photovoltaic systems on public buildings, such as offices and schools. Another possibility being currently researched is the affixation of the solar tube component to the façade of a house, in the absence of space availability on the roof, with the necessary aesthetic considerations taken into account.

I have so far based the analysis solely from a financial perspective, but needless to say, we all stand to gain from green initiatives. Climate change affects our economy, with extreme temperatures adversely affecting our seasonal tourism. Equally preoccupying is the deposit of harmful gases into the atmosphere and the threat this poses to health in general. With an estimated 35 per cent of the electricity production in Malta used for domestic purposes, there lies minimal ground for disagreement as to the central role played by renewable energy resources and energy efficiency in households. In simple words, gas, oil and electricity are not a long-term solution, not to mention security supply from countries with political unrest and instability which makes the situation all the more complex and unreliable.

The solar water heaters rebate scheme comes to an end on February 15.

It would be unwise for households not to avail themselves of this opportunity, when clearly knowing and being cognisant, on the one hand, of the financial benefits on a personal level, and the sustainability of our nation on the other. Prime Minister Lawrence Gonzi recently stated that the initiatives undertaken to combat climate change, namely subsidies for the installations of photovoltaics, solar water heaters and energy-saving bulbs, have saved the country close to €6 million in electricity generation, and a likewise equivalent amount of gases in our atmosphere. More than being a contribution to the country's 2020 target agreed to as a member state of the European Union, these efforts are in the interest of us all to ensure a sustainable today for a brighter tomorrow. The incentives are there but surely the government cannot do it alone. Respecting these targets as a country requires an equal effort on our part. Investing in renewable energy resources pays us and our country.

Advert

10 Comments

Post comment

Comments are submitted under the express understanding and condition that the editor may, and is authorised to, disclose any/all of the above personal information to any person or entity requesting the information for the purposes of legal action on grounds that such person or entity is aggrieved by any comment so submitted.

At this time your comment will not be displayed immediately upon posting. Please allow some time for your comment to be moderated before it is displayed.

Your User Profile is incomplete.
Please click here to complete your profile before posting comments.

Advert
Advert