Promotion and Up-scaling of Climate-resilient, Resource-efficient Technologies in a Tropical Island Context (Resource Efficiency Project). This is a GoS-UNDP-GEF project implemented from 2014-2018.
Seychelles is highly dependent on imported oil to meet its energy needs: 90% of the primary energy supply comes from imported fuel, with imports of fuel for electricity generation alone accounting for 12% of the total Government budget. This heavy reliance on imported fossil fuels places a heavy pressure on the country’s foreign exchange reserves, exacerbates state budget deficits, and poses major energy security concerns, both in terms of access to supplies and pricing. A market for energy-efficient appliances is just beginning to develop in the Seychelles, based in large part on the rapidly rising cost of electricity for most consumers. However, this market is constrained in many ways, including: a lack of consumer awareness about EE appliances; extremely limited purchase options for EE appliances (apart from energy saving lights); the inability of consumers to get bank loans or store financing for the purchase of high-value EE appliances (such as air conditioning units, refrigerators/freezers, and washing machines); and the absence of any standards or labelling schemes or requirements for EE appliances in the country.
The aim of the RE project is to increase market penetration of energy-efficient technologies, practices, products, and materials in the residential market. It consists of the following components:
• Policy strategies and legal framework;
• Strengthening of the support for resource-efficient technologies; and
• Developing financial mechanisms.