Palau - Demonstration of On-Bill Financing Scheme for Energy Efficient Air-Conditioners
Name of applicant: Palau Energy Administration
Project duration: 09/2019 - 12/2021
This demonstration project aims to raise awareness of energy efficiency and energy conservation in the context of climate change and sustainable development and to demonstrate the practicality of an on-bill financing scheme for energy efficient air-conditioners with climate-friendly refrigerant in public sector buildings in Palau.
The target technologies promoted in the demonstration project consist of energy efficiency inverter RACs with R32 refrigerant. Although this type of RACs is commercially viable and reliable in other regions, it has not achieved popular success and acceptance in Palau. Inverter RACs with R32 are not available off the shelf in Palau. The main American and Asian brands of RACs are available in Palau, however, virtually all inverter RACs come from China with R410A refrigerant. R32 Refrigerants has a depletion potential of zero, and the refrigerant has only approximately 1/3 of the GWP of R-410A refrigerant. The use of R32 reduces the amount of GWP in Palau.
This demonstration will pilot the on-bill financing scheme for energy efficient RACs and also support development of the financial mechanism for cooling efficiency in the hotel sector, being implemented by K-CEP. The demonstration will supplement the National Development Bank of Palau (NDBP) - EE housing loan to include cooling efficiency systems. For the Environmental Quality Protection Board (EQPB), the demo RACs with climate-friendly refrigerants will be introduced as a stepping stone for a clearer path of saving energy with friendly environmental refrigerant in Palau.
The target beneficiaries for this project are government agencies that provide services to the local populations in Palau. Specifically, the beneficiaries are schools in Koror State where most of the educational institutions in Palau are located as well as government buildings that provide services to the communities.
Remark: SAN FRANCISCO - August 24, 2021 – ClimateWorks Foundation announced that the Kigali Cooling Efficiency Program (K-CEP) has changed its name to the Clean Cooling Collaborative.
Related Article:
Approval of Financing Program for Sustainable Cooling in Palau
