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Solar energy. The revolution that drives the development of Honduras
Published: August 2018
Editor/s: Olga Mayoral, Consultant, BID Invest
Author/s: IDB Invest Climate Change Team
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Case study that exposes the work performed by the IDB and IDB Invest in Honduras to foster photovoltaic projects. IDB Invest sought companies that wanted to save money by generating renewable energy and provided specific studies on solar energy through non-reimbursable funds managed by the IDB Group and financed by several donors, including the Nordic Development Fund (NDF). It was expected that companies could save up to 20 percent of the electricity bill by installing solar panels on their roofs. The proposal included a 25-year warranty on the panels and a payback of six years. Such savings, according to the study, would allow the companies to pay off the loan and expand their business.
Only with first year savings, Inversiones Materiales (Invema) -a plastic recycling company in northern Honduras- decided to go further in its investment and fully cover its roof with solar panels, totalizing about 5.640 panels that generate almost 2.000 MWh of electricity per year, equivalent to the consumption of 770 houses.
In another reference case, the University of San Pedro Sula (USAP) has become pioneer among Honduran universities in the use of solar energy. Currently, six buildings on the campus are covered by 1.270 panels that generate more than 400 MWh per year, equivalent to 30 percent of the university’s consumption.