San Juan, Aug 12, 2008 -- EFE

Puerto Rico's Gov. Anibal Acevedo Vila announced Tuesday a series of projects to create incentives for slashing electricity consumption and motivating the use of renewables in this U.S. commonwealth.

The first of these measures is the so-called Green Loan, under which authorities are to provide $500 discounts and low-interest loans to help island residents buy solar-powered water heaters.

The second will be the Efficient Lightbulbs Incentive, according to which each customer of state-owned utility AEE will receive on his next electric bill a $5 coupon to buy energy-saving fluorescent light bulbs.

"If every home on the island were to substitute four incandescent light bulbs with a fluorescent equivalent, we could reduce total energy consumption in Puerto Rico by 1 percent and homes would save $52 million in just one year," Acevedo Vila said at a press conference.

As a third project, the government will buy efficient refrigerators, stoves and heaters for 56,000 homes of poor families over the next four years.

In addition, the governor signed legislation that encourages the use of solar energy by means of a tax exemption for the purchase, manufacture and installation of solar panels.

Another initiative is the creation of a Municipal Incentive Fund for Solar Energy, under which the Puerto Rican government will reimburse municipalities half of what they invest in renewable energy.

Acevedo Vila also announced that he has signed an executive order that establishes a plan for saving electricity in all government agencies.

The governor is asking state lawmakers to approve a plan to document all the effects Puerto Rico will suffer as a result of climate change and to devote 5 percent of the revenues from every public bond issue to projects aimed at finding alternatives to fossil fuels.

All these measures "that imply a reduction in the use of petroleum and its derivatives represent significant savings for the family budget," said Acevedo Vila, who is seeking a second four-year term in the November elections.

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