VIDEO: New Financing Options Available for Residents Wanting to Switch to Solar Power


Guam –  Businesses and schools have been in highlighted in the news for taking advantage of Guam’s abundant sunlight by making a switch to solar power. But even with advancements in technology Renewable Energy Companies on island are finding a number of homeowners are a bit reluctant to make the investment.

“The typhoon that’s the first question…the second of course is the cost.” Micronesia Renewable Energy Inc Vice President Jeffrey Voacolo said of the concerns costomers have about installing solar panels.

Voacolo says solar energy investments are safe from typhoons.

“Here on Guam you have to build to the 175 mile an hour wind load so all our racking that we use in MRE… is typhoon rated,” Voacolo told PNC.

His company also has a solution for the second concern, next week they’ll begin offering financing programs for residential customers that are similar to the options offered to commerical businesses.

“Most of our options require no money down,” MRE President Tracy Voalcola said. “Yes that’s no money down which is very very advantageous to the consumer who’s looking to install solar energy on their home, take advantage of lowering the utility bills.”

But if you’re not ready to invest in solar panels MRE and other local businesses have additional options for reducing your power bill.

Pacific Renewable Energy Solutions Director Thomas Tanaka says the most obvious option is switching out your light bulbs.

“You can save 40% of your lighting cost by switching to LED lights,” Tanaka said.

Both Tanaka and theVoacolas are a part of the Guam Renewable Energy Association. You can learn more about their businesses and other at