Today, Solar Buzz has grown to a team of eight and operates out of the Trade Centre on Red Hills Road in Kingston. As part of the company’s growth plans, Robinson is looking at setting up a second Solar Buzz location outside Kingston. (Photo: Joseph Wellington)
Solar Buzz has carved out a niche for itself in the renewable energy market for 13 years, but with the launch of a new solar energy financing program by the National Housing Trust (NHT), it is poised to go even deeper into business with residential customers.
Founded with a vision to raise the bar for solar installations in Jamaica, the family-run business currently derives the majority of its revenue from residential battery storage installations, but CEO Jason Robinson believes there is significant room for growth in the sector.
“This is definitely hurricane territory. Beryl taught us that every home, even a small one, needs some kind of solar system. We started with commercial because commercial is the financing vehicle, and commercial products are easier to finance. But getting the net charging license is a lot more difficult than it should be, and some commercial customers get frustrated and walk away from the projects.
“We see residential solar as an opportunity because the market is not saturated and there is a big push towards electric vehicles. If you have an electric vehicle, having your own solar system goes hand in hand,” Robinson told the Jamaica Observer.
Solar Buzz is currently banking on new business from NHT’s Smart Energy Home Improvement Loan, which went into effect July 1. Under the loan agreement, individuals who received an NHT loan at least 10 years ago can borrow $1.5 million individually, or $3 million collectively, to purchase solar panels and batteries, solar hot water heaters, solar insulation, other renewable energy technologies such as windmills, hydroelectricity and biomass, and rainwater collection and storage systems, including water tanks and pumps.
The loans will be offered at a 5% interest rate and have repayment periods of up to 10 years. The new loan program comes at a time when lithium-ion battery prices are also on a downward trend.
“This is a game changer for a number of reasons: due to what is going on in the market today, NHT lending is now the primary source of funding for mortgages as general bank interest rates are so high.
“People are working from home and are finding that even minor glitches with JPS can cause them to lose connection to their workplace.
“Things like Zoom meetings and telecommuting meetings. We have been trying to work with NHT for years and their introduction of this financing product is expected to help drive growth in this industry,” Robinson said.
Currently, about 75% of Solar Buzz’s business comes from residential lithium-ion battery storage systems.
Founded in June 2011 by brothers Jason and Justin and their father Gordon, Solar Buzz started small and has grown into a major player in the Caribbean solar energy industry.
The idea for Solar Buzz began when Robinson first began living in California and witnessed the state’s progressive stance on renewable energy and recycling between 2002 and 2010. During this time, Robinson said he got involved with various environmental organizations, took related classes and interned at various companies, solidifying his passion for the field.
The idea for Solar Buzz began when Robinson first lived in California and witnessed the state’s progressive stance on renewable energy and recycling between 2002 and 2010. During this time, Robinson got involved with various environmental organizations, took related classes and interned at various companies, solidifying his passion for the field.
“I got all involved in the solar business because I knew that was the field I wanted to be in one day, and then in 2008 the energy crisis happened and oil prices skyrocketed to over $100 a barrel and people started going out of business.
“I was following what was going on in Jamaica because I have family here and I thought this would be the perfect opportunity to try and work in the industry. So I moved to Jamaica in 2010 and worked for a company and learned a little bit about how they ran their business but I didn’t like it and thought I could do it better,” Robinson recalls.
The early days were challenging: Financing solar installations was hard to come by, so Solar Buzz had to focus on energy efficiency and educate customers on optimizing their solar systems.
But the big turning point for Solar Buzz came in 2014 when the Development Bank of Jamaica (DBJ) launched its solar power financing program, allowing customers to use their solar power systems as collateral, giving them access to solar power financing for the first time.
Robinson credited DBJ’s General Manager, Channels, Relationships and Marketing, Edison Galbraith, and his team for this groundbreaking development which has accelerated the growth of Jamaica’s residential and small commercial solar power industry.
“It’s been a great achievement and I’m grateful to Edison Galbraith and his team,” Robinson said, adding that the company’s current client base includes Island Smiles, Gray’s Peppers, Chas E Ransomes Group, Caribbean Foods and the University of the West Indies.
Today, Solar Buzz has grown to a company with a team of eight and operates out of The Trade Centre on Red Hills Road in Kingston. They have also expanded their products and services to offer solar energy systems that can save up to 90% on commercial and residential electricity bills, commercial, residential and auto/fleet glass tinting that instantly reduces glare, heat and UV rays, solar hot water heaters, solar pool pumps, solar inflatable lanterns that inflate to 8 inches and provide 15 square feet of light for up to 12 hours, and solar hybrid flashlights.
Seeking Partnerships
As it seeks to expand its presence in the residential market, Robinson said SolarBuzz is exploring strategic partnerships with developers and companies that sell electric vehicles, such as ATL Auto. He also said he is looking to build stronger relationships with banks and insurance companies.
“In the past, our partners and customers have asked us to install systems that are protected against hurricanes up to Category 4, and we want to continue that relationship. We’ve never thought of ourselves as the cheapest contractor, but customers ask us because they know they’re getting a quality product, so we want to build on that relationship,” he said.
Robinson is also seriously considering financing options for growth opportunities, and the company is open to partnerships with both private and public institutions, but is currently leaning toward private collaboration.
“We’ve built a company that’s bootstrapped, but we’re at a point where we need to consider how we scale. Everything’s on the table right now. We’re looking at how best to scale, who to partner with, what opportunities are out there, which developers to work with, and I think that’s going to be a big focus for us going forward.”
“As for going public, that’s something we’ll consider in the future. I don’t think we’re at the stage yet where we want to go public because it comes with a lot of responsibility,” he said.
As part of his growth plans, Robinson is also considering opening a second Solar Buzz location outside of Kingston.
Robinson… this is clearly hurricane zone. Beryl shows that every home, no matter how small, needs some kind of solar power system (Photo: Joseph Wellington)
SolarBuzz is hoping to get new business from NHT’s smart energy home retrofit loan, which went into effect on July 1. About 75% of the company’s revenue currently comes from residential solar installations, but Robinson sees room for further growth in that part of the market. Joseph Wellington
Solar Buzz carries lithium battery storage systems, grid-tied solar systems, commercial, residential and auto/vehicle glass tinting, solar water heaters, solar pool pumps, solar inflatable lanterns and solar hybrid flashlights. Joseph Wellington
