Energy Efficient Subsidy Loan Program (EESP) | ESCAP Policy Documents Managment

Meta Data

Draft:

Revision of previous policy?:

Effective Start Year:

2008

Effective End Year:

2014

Scope:

National

Document Type:

Programme

Economic Sector:

Energy, Building

Energy Types:

All, Other

Issued by:

Palau Energy Administration

Source:

Palau Energy Administration

Prdrse4all

File:

Palau Energy Efficiency Subsidy Programme (EESP)

Overall Summary:

The Energy Efficient Subsidy Loan Program (EESP) is the first of three National Development Bank - Energy Loan Programs of Palau programs (NDBP-ELP), which is a home loan that incorporates specific energy efficient measures and products to a new home construction with possibility of subsidy towards the mortgage payment starting at $3,000 up to $6,000 depending on the measures that are incorporate in the new construction. The subsidy funds for this program are from the Governments of Italy and Austria, managed by IUCN.

Efficiency

EE financial incentives:

The NDBP provides subsidies to the borrower ranging from a minimum of $3,000 to $10,000 (US Dollars), depending on the type and number of features selected by the new home owner. The project envisages new energy eﬃcient homes will consume 15% less energy than the normal houses. The project will also help expand the demand for energy eﬃcient appliances and services.

Full Document Text

Palau Energy Efficient Subsidy Loan Program (EESP)

Country: Palau

Activities:

To build the new homes, IUCN works with the National Development Bank of Palau (NDBP) through an innovative financing scheme called the Energy Eﬃciency Subsidy Programme (EESP), which allows the people of Palau to own a new energy eﬃcient home.

Through this EESP, moderate income families can build new homes, with choices of energy saving features suitable for the Palau environment. The NDBP provides subsidies to the borrower ranging from a minimum of $3,000 to $10,000 (US Dollars), depending on the type and number of features selected by the new home owner. The project envisages new energy eﬃcient homes will consume 15% less energy than the normal houses. The project will also help expand the demand for energy eﬃcient appliances and services.

60 energy model homes built by the NDBP and Palau Housing Authority under this scheme and awareness activities carried out. A number of awareness events (energy fair in schools) have been held to promote

the energy eﬃcient activities/appliances. Subsidy of up to $6,000.00 for First Time Home Owner building a homeand

incorporating program identified energy

eﬃcient measures in to the new house. The largest hardware retailer has joined the initiative as a partner. The EESP is the first project in the PICs where a commercial institution (NDBP) has played a leading role in sustainable energy awareness

and development. It has spurred a similar interest among other institutions across Pacific.

Future plans include subsidies for retrofitting of EE measures in existing homes. Building on the EESP a new subsidy scheme under Renewable Energy Subsidy Programme (RESP) is now providing subsidies for renewable energy equipment. The funding for this component is through the national GPAS programme (GEF Pacific Sustainability Alliance).

Subsector: EE - Demand

Type of Activity: Training and Workshop

Technical assistance Hardware

Comments: The project envisages new energy eﬃcient homes will consume 15% less energy than the normal houses.

Start Year: 2008

End Year: 2014

Related Publications: EESLI: Palau goes for energy eﬃcient homes