Renewable energy has become more than a buzz word in Barbados over the last several years, with more individuals arming themselves with information and taking steps towards engaging in clean energy projects for their homes and businesses.
Renewable energy start-up firm Goodridge Power Inc. is taking advantage of the growing demand for renewable energy systems, providing a range of professional services to prospective clients as it bridges the exiting gaps.
The business, which is currently hosted in the Newton Industrial Park, was co-founded by father and daughter team Robert and Aria Goodridge just over a year ago.
Goodridge Power Inc. was one of several innovative start-up businesses involved in the recently concluded Bloom Cleantech Cluster incubator programme, and benefited from grants and awards valuing US$20,000.
Indicating that the award will go a long way in helping to grow their operation, they told Today’s BUSINESS they were encouraged by the growing interest among Barbadians to install a solar power system.
However, Robert said there continued to be some lingering perceptions, and that was where Goodridge Power came in to dispel rumours and instill courage and confidence.
“At the moment what we find is that there is a growing interest but there is a general perception among local individuals that this is complex, it is costly and it is out of my reach.
So there is still a hesitance to get involved. There is always a sense of ‘I would like to’ or ‘maybe I will one day’. But there is an apprehension for multiple reasons.
Sometimes it might just be a competence of the industry you just don’t know anything about it “So there are several factors that we find are preventing people from stepping forward, and Goodridge Power helps demystify some of those concepts, help to break down some of the barriers in terms of the procedures and complexities involved and to simplify and really just to get it done,” said Robert.
Describing the over one-year journey as a very exciting one so far, The Chief Operating Officer explained that he would engage prospective clients in a process that allowed them to understand their options when it came to the installation and maintenance of a solar power system, thereby making it easier for them to take the step.
“There are multiple choices that have to be made, but you need guidance into making the right decisions so that you can actually be successful and profitable with your investment,” said Robert.
He said Goodridge Power has been able to develop a working relationship with a number of partners in the industry to make sure “the average Barbadian can implement and adopt and install a solar solution”.
“Our approach has been to identify potential customers. So we have been more proactive at this point . . . and what we do is assess the potential that client has, we have interface with multiple installing companies, and we acquire multiple quotations and do analyses on behalf of that client and give them advice and recommendations as to what different approaches they can take in order to benefit and maximise the potential and opportunities that lie within this industry,” Robert explained.
Aria, who is the Chief Executive Officer, added that the company also helps prospective clients locate the best financial solutions.“As you know, the upfront cost for renewable energy projects is very steep and daunting for the individual.
So what we do is provide simple financial solutions to reduce the cost for the individual to get their project up and running and then there will be a contract in terms of paying back for the project,” said Aria.
While the company is currently focused on the solar photovoltaic (PV) segment, Robert said the aim was to get involved in the wider renewable energy industry.
“So we are looking at other initiatives as it pertains to storage and waste-to-energy type initiatives as well,” he said.
He said he found that residents were often more encouraged to take the step toward implementing a renewable energy system once they had the conversation with Goodridge Power.
“What we have found is that people have become more aware, they become more comfortable and they are in a place to say ‘let’s go forward, let’s take one of the options’,” he said.
The entrepreneur commended operators of the Bloom Cleantech Cluster programme, Export Barbados (BIDC) and the other partners. However, eager to see Barbados transition to a more innovative society, he recommended that a lot more be done on a national level to attract and stimulate innovative ideas and businesses.
“More needs to be done to continue to develop a start-up ecosystem. The general psyche here is that you attempt to do a business and you do it on your own, but the likelihood of that is that the percentage for failure is amplified, not just because of your competence and idea, it might just be the lack of a supportive environment that can encourage and foster your success. So I think more can be done to create more of what we could call a startup ecosystem in Barbados,” said Robert.
marlonmadden@barbadostoday.bb
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