A growing focus on energy efficiency and the long-term cost of powering homes is prompting more Bermuda residents to consider investing in solar energy systems.
Against a backdrop of rising global temperatures, increased focus on climate resilience and the continued cost of household energy, renewable energy solutions are becoming an increasingly relevant consideration for homeowners.
Clarien Bank has seen growing interest from clients seeking financing to support the installation of solar energy systems.
Melissa Buckley Pridham is senior vice president, head of Personal and Private Banking at Clarien, heading up its personal banking, lending and private banking teams.
She leads all non-commercial banking activities under a unified leadership structure, supporting the continued development of Clarien’s banking offering and client experience.
“We have seen a growing level of interest from clients in financing solar installations,” she said.
“For many Bermuda households, the decision is increasingly being viewed not simply as an environmental choice, but as a long-term investment in their home and in managing future energy costs.
“While the upfront investment can be significant, financing can make that transition more accessible by allowing clients to spread the cost over a manageable period rather than funding the full installation at once.”
Ms Buckley Pridham stressed that energy efficiency is becoming a more prominent consideration for homeowners.
She said: “With the temperatures we are experiencing, the broader focus on climate resilience, and the cost of powering and cooling our homes, there is a very practical conversation taking place around how households use and generate energy.
“In Bermuda, where energy costs are already a meaningful household expense, the economics of solar can be particularly relevant. We are seeing clients think more deliberately about the longer-term cost of running their homes and whether investing in renewable energy makes sense as part of that.”
For homeowners considering the transition to solar, financing can help address one of the principal barriers: the upfront cost of installation.
Ms Buckley Pridham said: “Clarien offers financing of up to $50,000 towards an approved solar installation, with a minimum upfront contribution of 10 per cent. Loans can be structured over a term of up to eight years, with fixed monthly repayments.”
She said Clarien’s goal is to help clients understand how this kind of investment can fit within their broader financial position.
“Solar can require a meaningful upfront commitment, so we want clients to have a clear understanding of the overall affordability before they proceed,” she said.
To apply, provide your financial information — including your income and existing commitments — together with details of the proposed installation and a quote from the supplier.
