Back in February of 2012 during the Annual General Assembly of The Palms View owners, and while studying budgets of past and projected years, one line item stood out above the rest.

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While reviewing the cost of electricity all owners were concerned that there seemed to be a continuous increase in the cost of common area   electricity.

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Noticing an average increase of 10% per year over the past 10 years, and seeing no reason for this trend not to continue, the VLP owners as a whole asked the Board to research alternative options.

The Home Owners Board of Directors and Property Manager started to explore the use of Solar Panels.  For a full year VLP had tests performed with actual solar panels and worked with information from NASA to determine if there was enough of a benefit to invest in these panels.

The data returned was very promising, as in Costa Rica around the area of Jaco, they found that the average amount of sun was more then sufficient to supply energy savings that outweighed over time, the initial investment.

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After over a year of research the VLP Board presented its findings to the General Assembly. Now that they knew solar would work, the other problem was how to pay for this significant investment.  The cost was close to US$300,000 and as we were an HOA with no tangible assets, we could not obtain a loan from the bank. The only way to pay for this was for the Home Owners to make it work themselves.

Determining that this investment was not a guaranteed investment the Board decided to allow owners to invest  in “Tranches” of US$10,000, and those who invested would receive an interest return of 7.5% per year until the project was completely paid off.

The Board also had the chosen Solar Panel installation company invest US$30,000 in the project so they too would become a partner in the project, providing everyone involved an extra incentive to achieve the best possible results.

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As of today, The Palms View in Jaco Beach has enjoyed 5 months of Solar Power Saving; they have been able to reduce their total Common Area bill by an average of US$4,500 per month and expect to have our total investment paid back in 6 – 7 years.

The lifespan of the solar panels are 25 years, so the total amount to be saved over the life of the project is enormous.

Living in a beach town with only one government owned electrical provider, and having a building to be the first in the area to make a major investment in Solar, has started a domino effect, and as electricity rates continue to climb, the wisdom of this decision only becomes more apparent.

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Solar Power Energy in Jaco?  One Development Leads By Example And Saves US$4,500 per month..

 

Costa Rica Recommended Realtors in Jaco Shawn Fletcher and his wife Hannah Fletcher.
 

Affordable Oceanfront Condos For Sale in JacoA fun beach town for all the family.

 

For more information about condos, homes and land for sale in the beach town of Jaco and surrounding areas please contact our Recommended Realtors in Jaco Shawn Fletcher and his wife Hannah Fletcher
using the simple form below:

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