Description/achievement of initiative
This Project aims to increase in local energy resources and efficient utilization of energy through the household sector, both of which are expected to reduce pollution through a reduction in the use of imported fossil fuel for power generation.
The Project consists of two components:
Component I Energy Efficiency ("EE"): EE sub-loans will be made to households for the introduction of energy-saving appliances and light fittings and, if necessary, the upgrading of internal household wiring. The applicant households must take an energy audit carried out by the MEC free of charge to obtain a list of the inefficient appliances and light fittings in need of replacement, which will later be provided to the MIDB for loan approval.
Component II Renewable Energy ("RE"): A RE sub-loan will be made to households for installing a solar photovoltaic system, provided that the applicant households have achieved the energy efficient level required by the MEC.
Arrangements for Capacity-Building and Technology Transfer
Provide at least 200 household applicants with free energy audits, and then provide loans for them to install energy efficient lighting and electric appliances, as well as rooftop solar panels to generate renewable electricity.
Coordination mechanisms/governance structure
The MoF will be the Executing Agency of the Project, while the Ministry of Resources and Development (MoR&D), the authority in the RMI responsible for its energy policy planning and coordination, will serve as the Executing Partner in assisting the MoF to coordinate implementation of the Project
MEC and MIDB will be the Implementing Agencies, with MEC responsible for technical matters, including raising awareness and the promotion of the Project to the public, and MIDB responsible for re-lending facilities in accordance with the MOU.
The Government of Marshall Islands, Marshall Islands Development Bank, the Marshalls Energy Company, International Cooperation and Development Fund