The United States Agency for International Development (USAID) conducted a solar photovoltaic workshop in Kingston at the beginning of the month to help local organisations hurdle the barriers to financing solar energy projects.

The introductory training workshop, conducted under the agency’s Caribbean Clean Energy Program, was held at The Marriott Courtyard under the theme: Advancing renewable energy investments. It was the first in a series aimed at spurring investments in clean energy development projects in Jamaica and the Eastern Caribbean States, the agency said.

Thirteen organisations from the financial, educational, and energy sectors participated, including The University of the West Indies, Mona; Development Bank of Jamaica, First Global Bank Limited; Jamaica National Small Business Loans Limited, Jamaica Productivity Centre; New Leaf Power, and Jamaica Pegasus Hotel.

The workshop, which also facilitated networking opportunities, introduced the participants to the basics of designing and developing successful solar energy projects — the risks involved, the required time, money and other resources, and the earning potential.

Participants also learned about electrical terminologies, the components of solar photovoltaic systems, solar project development processes, and the financial analysis of photovoltaic plants. Follow-up training workshops to be held in the coming months will focus on building capacity in the areas of risk assessment and financial models and will include site visits to local solar powered plants.

USAID said project development training in solar and other renewable energy sources is expected to accelerate growth in renewable energy investments, which is a vital project component.