Puerto Rico home and small business owners burned through $4 million in subsidies offered through the Green Energy Fund for solar energy projects Wednesday, filing a record-setting 120 applications in 21 minutes, Energy Affairs Administration Executive Director Luis Bernal said.
With an investment that exceeds $583,000, BMF Water, a Caguas-based bottling company, recently finished installing a solar power system that will allow the company to reduce its energy costs by about $50,000 annually.
Over the past year, 111 green energy projects have sprouted up islandwide representing a joint investment between the government and the private sector of some $48 million.