1. Supplying the Caribbean
with solar energy
Monday Tuesday Wednesday Thursday
Homeowners Homeowners Homeowners Homeowners
and Businesses Businesses And NGOs
Businesses and Installers
Installers And NGOs
5 -Interviews 8 -Interviews 14 -Interviews 7-Interviews
Total Interviews: 34
Coury Revan Shella Cadet Ryan Lessard

2. Day One

3. Day One: Hypotheses / what did we learn?
The initial Idea:
Manufacture modular solar/wind hybrid energy
systems for residential households and small
commercial buildings in the US
What we’ve learned:
Installation costs and the permits required to
install or modify existing solar/wind equipment
are very high
A modular system that requires several
rounds of installation fees is not feasible
We need to install the entire product in one
go

4. Day Two

5. Day Two: Hypotheses / what did we learn?
The Idea:
Manufacture and install modular solar/wind energy
systems in New Jersey (a state with enticing green
energy subsidies)
What we’ve learned:
The subsidies are expiring in the near future!
Need an area where green energy works and
there are high energy costs
The initial costs of the systems are too high for
customers – they aren’t willing or able to
commit that much capital for long term
savings
Therefore, our sales model is not feasible.
Leasing is a better option

6. Day Three

7. Customer Segment
CARICOM has 15 member states and 5 associate states:
Antigua and Barbuda, the
Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, St.
Lucia, St. Kitts and Nevis, St. Vincent and the Grenadines, Suriname, Trinidad and Tobago
(CARICOM 2010).

8. Day Three: Hypotheses / what did we learn?
The Idea:
Manufacture and install solar energy systems in the
Caribbean
What we’ve learned:
Many countries in the Caribbean have oil
subsidies, making them more hostile to green
energy
We spoke to many non-governmental
organizations focused on green energy
Selected three countries because they have
small or no oil subsidies and will be easier to
introduce green energy into the market.

9. Customer Segment
Residential
Homes in:
Market Cost Revenue Barbados Investors
Analysis Evaluation Steam
Greneda
St. Lucia
Barbados
• Highest GDP of Caribbean countries
• Largest island (population)
• Second largest island (area)
• Large demand for electricity

10. Market Analysis
Characteristics of the market:
• Relatively high GDPs
• Extremely dependent on oil import (except Trinidad and Tobago)
• Extensive electric power coverage, up to 99% (everyone is on the grid)
• Some of the highest electricity tariffs on the globe
Served Available Market:
Market Size 65% Residences interested in
reducing bills or in using
green energy = 125,000
Total Addressable Market:
192,000 Residential homes -
7,500
homes
Target Market:
6% of the SAM (assumption)

11. Market Analysis

12. Cost Analysis
The monthly Customer Charge is determined based on the customer’s average energy
consumption in kWh
Also, fuel charge for each KWh is applied for the cost of fuel associated with the provision of this
service. The fuel Clause Adjustment is calculated according to the Fuel Clause approved by the
Fair Trading Commission and may vary from one month to another

13. Revenue Analysis
~$8k/year
Cost of Manufacturing Installation
Sales Costs
Materials Cost Cost
$10,000 $3,000 $2000 $17,000

14. Drivers that support the Value Proposition
Economic Drivers Environmental Drivers Social Drivers
• Economic Optimization • Reducing Emissions • Employment
• Leasing is a better • No direct or • Direct and indirect
choice indirect emissions employment will
from renewable be generated
energy
• Security of Supply • Reducing Climate • Public Support
Change • People are asking
• Decrease
dependency on • Implementation of for more cheaper
fossil fuel renewable energy cost
energies help to
prevent Climate
Change
• Leading Industry • Social Economic
• Protect Natural Life
• Increase of market Cohesion
• No cut-backs of
share and • Can help in areas that
natural resources
business are areas economically
opportunities challenged

15. Day Four

16. Day Four: Hypotheses / what did we learn?
The Idea:
Use NGO and government incentives to
subsidize our business
What we’ve learned:
Many NGOs provide free education for
employees of solar installation companies
We plan to take advantage of these programs
to reduce our costs

17. Day Five

18. Day Five: Hypotheses / what did we learn?
The Idea:
Hypothesis: our main competition would be
with other solar installers of similar size
What we’ve learned:
Power companies in Barbados are beginning
their own initiatives to install solar panels on
residential homes and then tie them into the
grid
These are pilot programs. We plan to contact
the utility companies to learn more and
perhaps initiate a partnership.