After 13 years of carving out a niche in the renewable energy market, Solar Buzz is ready to deepen its business with residential customers as the new solar energy loan financing programme by the National Housing Trust (NHT) takes effect.

The family-owned business, which was conceptualised with a vision of raising the standard of solar installations in Jamaica, today earns the majority of its revenues from residential battery storage installations. Still, it’s a space that CEO Jason Robinson sees as having much scope for growth.

“We are in a hurricane zone obviously, and Beryl shows us that every home needs some sort of solar system, even if it’s something small. Commercial was our first go because that’s where the financing was and it’s still easier to get financing on commercial products; but getting a net billing licence is a lot more onerous than it should be and so some of the commercial customers get frustrated and may back out of the project.

“Residential is an opportunity we see because the market is not saturated and then there is a big push for electric vehicles and if you have an EV, having your own solar system goes hand in hand,” Robinson told the Jamaica Observer.

Solar Buzz is now banking on new business from the NHT’s smart energy home improvement loan, which took effect on July 1. Under the loan arrangement, individuals who received an NHT loan at least 10 years ago can access $1.5 million each, or $3 million jointly, to purchase solar panels and batteries, solar water heaters, solar insulation, other renewable energy technology such as windmills, hydropower and biomass; rainwater harvesting and storage systems to include water tanks and pumps.

The loans are being disbursed at an interest rate of 5 per cent with a payback period of up to 10 years. The new loan programme comes at a time when lithium-ion battery prices are also trending down.

“It’s a game changer for a couple of reasons: NHT financing is our main source of residential financing now just because the interest rates for the regular banks are so high because of what’s happening in the market now.

“People are working from home and they realise that even with a blip from JPS, they lose connection with their
Zoom meeting or school-from-home meeting, etc. We have been trying to work with the NHT for years and so them coming on stream with this loan product is really expected to drive growth in this industry,” Robinson Business Observer.

Currently, roughly 75 per cent of Solar Buzz’s business comes from residential lithium-ion battery storage systems.

Founded in June 2011 by brothers Jason and Justin, along with their father Gordon, Solar Buzz has grown from humble beginnings to become a key player in the Caribbean’s solar energy landscape.

The inspiration for Solar Buzz began during Robinson’s early years in California, where he witnessed the State’s progressive stance on renewable energy and recycling from 2002 to 2010. During this period, Robinson said he engaged in various environmental groups, took relevant classes, and interned at different businesses, solidifying his passion for the field.

The inspiration for Solar Buzz began during Robinson’s early years in California, where he witnessed the state’s progressive stance on renewable energy and recycling from 2002 to 2010. During this period, Robinson engaged in various environmental groups, took relevant classes, and interned at different businesses, solidifying his passion for the field.

“I got involved in everything solar business because I knew then that it was a field that I wanted to be involved in one day. Then in 2008, when the energy crisis hit and oil prices skyrocketed to over US$100 per barrel people started going out of business.

“Because my family is here, I was focused on what was happening in Jamaica, and I saw that as the opportune time for me to try to work in the industry, so I moved down in 2010, worked with a company, kinda learned how they did business, but I didn’t like the approach and thought I could do a better job,” Robinson recalled.

The early years were challenging. Securing financing for solar installations was difficult, pushing Solar Buzz to focus on energy efficiency and educating clients on optimising their solar systems.

However, a significant turning point for Solar Buzz came in 2014 when the Development Bank of Jamaica (DBJ) launched a solar financing programme. That initiative allowed clients to use their solar systems as collateral, unlocking access to solar financing for the first time.

Robinson credits Edison Galbraith, general manager for channels, relationships and marketing and his team at DBJ, for this groundbreaking development, which catalysed the growth of the residential and small commercial solar industry in Jamaica.

“It was huge. I credit Edison Galbraith and his team,” Robinson said, adding that the company’s client base currently includes Island Smiles, Gray’s Peppers, Chas E Ransom’s Group, Caribbean Foods, and The University of the West Indies.

Today Solar Buzz has grown its business to a team of eight and operates from The Trade Centre on Red Hills Road in Kingston. Its product and services have also expanded to include solar energy systems that offer up to 90 per cent savings on electricity bills for commercial and residential use; glass tinting for commercial, residential, and auto/fleet applications to provide instant reduction of glare, heat, and UV exposure; solar water heaters; solar pool pumps; solar inflatable lantern that inflate to 8 inches and provides 15 square feet of light and up to 12 hours of illumination, along with solar hybrid flashlights.

Exploring partnerships

As the company works to expand its presence in the residential market, Robinson stated that Solar Buzz is exploring strategic partnerships with developers and companies selling electric vehicles such as ATL Auto. The CEO is also looking to deepen its relationship with the bank and insurance firms.

“So far, our partners and clients have trusted us to install systems that are protected against up to category four hurricanes and we want to keep that relationship going. We have never considered ourselves to be the cheapest but our clients come to us because they know they are getting quality products and so we want to build on those relationships,” he said.

Robinson is also taking a serious look at financing options to prepare for growth opportunities. While the company is open to both private and public partnerships, Robinson currently leans towards private collaborations.

“We have really built the company out of self-funding and we are getting to the point where we need to look at how do we scale the business. Everything is on the table right now, we are looking at how best to scale, who to partner with and the opportunities that are there, what developers to work with and I think that is going to be a big focus for us going forward,”

“As it relates to going to public, its something that we would look at further down the line, I don’t think we are there yet to want to go public because that comes with a lot of responsibilities,” he said.

As part of the growth plans, Robinson is also eyeing a second location for Solar Buzz outside of Kingston.

ROBINSON…we are in a hurricane zone obviously, and Beryl shows us that every home needs some sort of solar system, even if it’s something small (Photo: Joseph Wellington)

Solar Buzz is banking on new business from the NHT’s smart energy home improvement loan which took effect on July 1. Roughly 75 per cent of company revenues currently comes from residential solar installations; however, Robinson see more scope for growth in that segment of the market. Joseph wellington

Solar Buzz deals in lithum battery storage systems; grid-tie solar systems; glass tinting for commercial, residential, and auto/fleet applications; solar water heaters; solar pool pumps; solar inflatable lantern and solar hybrid flashlights. Joseph Wellington