Residents planning to invest in alternative energy sources, such as solar panels, can now do so with help from government.
The Governor-in-Cabinet recently approved an import duty waiver for renewable and alternative energy equipment.
Brought to Cabinet by Minister of Communications, Works and Infrastructure, Arden McLean, the waiver is part of his ministry and the Electricity Regulatory Authority’s efforts to reduce the Islands’ dependence on fossil fuels.
‘There are many renewable energy sources that are economically viable for the Cayman Islands,’ said Mr. McLean, ‘and the ministry would like to prevent any further delay caused by import duties in the adoption of renewable technologies.’
Effective since 1 December 2008, the waiver allows a full exemption from import duty on renewable energy equipment for residential homeowners.
Waivers on similar equipment imported for commercial use will be reviewed on a case-by-case basis by the ERA.
Renewable energy is sourced from the earth’s natural resources such as the sun, wind, ocean and soil.