BUSINESS OWNER SAVES BIG FROM SOLAR SYSTEM

first_img Jamaica’s Senate Begins debate on National Identification and Registration Bill Facebook Twitter Google+LinkedInPinterestWhatsAppKINGSTON, Oct. 3 (Jamaica Information Service): A New Kingston business owner is reaping the benefits of reduced energy costs, following the installation of a US$30,000 photovoltaic solar system at her premises.Operator of the Oasis on the Oxford, Lorraine Clunie, is encouraging other small business owners to take the step towards renewable energy, following a dramatic reduction in her electricity bills after just three months.“My light bill was coming to about $150,000 per month, sometimes even as high as $210,000. I installed the 15-kilowatt system in June and the following month I received a bill for $40,000 and after that my light bill went down even further to $20,000,” she said. Mrs. Clunie, who was speaking to JIS News at her company on Oxford Road, following a tour of the premises by Energy Minister, Hon. Phillip Paulwell, on October 3, said there were times when she considered closing her business, as the energy cost had become quite unbearable. “There were times when just to pay the light bill, I was not able to pay my staff or to pay my lease,” she noted.“I got to a point where I didn’t know what to do and then I heard a statement from the Minister encouraging persons to go solar and so I became aware of the possibilities and the benefits that could be derived,” she added.Mrs. Clunie said after doing some research on solar energy, she decided to acquire the system using her credit card, importing a part at a time. “I didn’t have all the money at once, so I decided to buy it piece by piece. It took me nine to ten months to acquire the entire system and to get everything here. And the major thing was that I didn’t have to pay any duty on the system, because of the Government’s duty free policy on renewable energy systems,” she told JIS News. She informed that her system, which includes 81 solar panels, now provides all the energy she needs to run her New Kingston business complex, which houses the Red Snapper Restaurant, the Thirsty Man pub, and Elegant Weddings.Mrs. Clunie is now in the process of applying for a licence from the Office of the Utilities Regulation (OUR) for Net Billing to sell excess energy to the Jamaica Public Service (JPS).“I would encourage small business owners to just get with the programme. The fact is I am now much better off and this system will pay for itself in about 18 to 20 months,” she says.In the meantime, Minister Paulwell told JIS News that the installation of the system demonstrates the importance of using those incentives that the government has provided to small businesses to lower their cost of electricity.“This is a good model for small businesses and it has slashed their electricity usage and costs significantly, making the business so much more viable and productive,” he noted.“So, when we say that each person has a responsibility to reduce the cost of electricity, this is one of the models that we want to promote,” the Minister said.He pointed out that once the system is installed, it is maintenance free for almost 20 years. “You make back your money in four years and you’re able to generate a significant profit from it, so it is definitely a win, win,” the Minister said. Related Items:jamaica, Lorraine Clunie, Oasis on the Oxford, solar system Bahamas DPM Turnquest, as IDB Governor, Talks Technology and Climate Change Resilience at IDB Conclave Recommended for you Facebook Twitter Google+LinkedInPinterestWhatsApp Two boys die, bicycle and van collide in St. Catherine, Jamaicalast_img read more

Trump blasts Facebooks Libra cryptocurrency says US has only one real currency

first_img Now playing: Watch this: …and International. We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!— Donald J. Trump (@realDonaldTrump) July 12, 2019 Facebook cryptocurrency revealed, Google puts $1B toward… Facebook Tech Industry Tags 1:21center_img Comments US President Donald Trump tweeted about Facebook’s Libra, as well as other cryptocurrencies, on Thursday night. Saul Loeb/AFP/Getty Images In June, Facebook announced its next attempt at expanding outside social media platforms: the Libra cryptocurrency. It’ll be like Bitcoin, except its value will be pegged to a basket of assets, like government securities, to make it more stable. The world is unsure of how successful or disruptive Libra will be, and on Thursday the cryptocurrency got perhaps its biggest detractor yet: the president of the United States.”I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air,” Donald Trump tweeted on Thursday night, before moving on to Libra in a subsequent tweet.”Similarly, Facebook Libra’s ‘virtual currency’ will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National [and international].” 10 Trump ended the tweet thread by boasting of the US dollar’s dependability and reliability. The message from the president is clear: If you want to invest in a currency, ditch the crypto and look to the US dollar.Trump isn’t the only high-profile figure to question Libra this week. The head of the US Federal Reserve, Jerome Powell, reportedly told House lawmakers on Wednesday that the US’ central bank has “serious concerns” about Libra. Both the Federal Reserve System and a separate panel called the Financial Stability Oversight Council are meeting to discuss Libra alongside global policy makers, Powell also reportedly said.Libra won’t be run by just Facebook. Rather, Facebook and its partners have created an organization, the Libra Association, to manage the technical aspects of the project and work with regulators. David Marcus, who heads both Facebook’s Messenger department and the Libra project, says Facebook will be just one of many voices in the Libra Association, and won’t have special influence.”Facebook won’t have any special responsibility over the Libra Network,” he wrote in a FAQ page.Libra also has some built-in safeguards, which have been used in the real world, to make sure the value of the cryptocurrency stays stable. Facebook will build a wallet, called Calibra, though it will be a wholly owned subsidiary that Facebook says won’t share financial data with the social network.Libra is expected to launch in the first half of next year.Meanwhile, Trump’s news-making outburst over cryptocurrencies reinforces a federal court’s ruling this week that the leader of the US can’t block users on the social network, because it’s a public forum. The unanimous decision by the US Court of Appeals for the 2nd Circuit affirms the ruling made by the US District Court for the Southern District of New York in 2018 after Trump was sued for blocking users the previous year. Share your voicelast_img read more

Month of Language Movement begins

first_imgMonth of Language Movement begins. Photo:BSSAs the month of the Language Movement begins today (Friday), the country’s people will pay tributes to the valiant sons of the soil who were killed during the Language Movement in February 1952, reports BSS.The Bengali nation achieved the dignity of their mother language on 21 February 1952 through the supreme sacrifice made by Salam, Shafiq, Barkat, Rafique and others during a massive movement.February is the month of mourning. Yet, it is a matter of dignity for the nation as only the Bangladeshis have sacrificed lives for their mother language.The Language Day — 21 February — is also recognised as the International Mother Language Day.A month-long book fair will also begin today. Prime minister Sheikh Hasina is expected to inaugurate the fair as the chief guest at Bangla Academy in the capital city at 3:00pm today.A two-day poetry festival titled ‘Bangalir Joy Kabitar Joy’ will also begin in the city today. Noted poet Asad Chowdhury will inaugurate the festival at Dhaka University central library.A total of 14 guest poets from nine countries will take part in the festival.last_img read more