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Alternative energy use dependent on affordable packages

More affordable packages to spur the use of alternative energy in Barbados – this is the suggestion of Dr. Delisle Worrell, Governor of the Central Bank of Barbados (CBB).

Speaking on the pillars Barbados has to develop in order for future growth he pointed to the use of alternative energy as a key pillar at the review of the economy of 2011.

He explained, “The uptake in using alternative energy such as photovoltaic panels has been slower but the signs are promising that more persons are interested. There is a critical point that I have been saying to the business community that needs to be done to get the individual generation by households and companies to really pick up is better packaging.

“It has to be packaged in a way to make it affordable to the average middle class household, a package that you pay a modest down payment and pay by the month. Therefore, you can own your system over five years that is all that is needed to take off.”

Alternative energy has become increasingly important to the development of Barbados. The Government has made the thrust towards a Green Economy. The Barbados Chamber of Commerce and Industry (BCCI) has highlighted alternative energy as a major goal and there have been many seminars on this topic.

There are some who believe Barbados cannot be the Entrepreneurship hub of the Caribbean by 2020 without making a significant shift towards alternative energy. In the manufacturing sector and the service delivery sector, energy is what drives production and our services are also highly dependent on energy.

Dr. Worrell believes, “Alternate energy can save us [a] considerable amount of foreign exchange, the technology is available and the IDB financing provides us with the foreign exchange we well need in order to support the projects such as bringing in photovoltaic panels.”

Source: Barbados Advocate



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