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Renewable energy matrix developed in Barbados

A renewable energy matrix developed in Barbados over the next twenty years has the potential to save this country millions on electricity costs and billions on oil import costs.

This was explained by Prime Minister Freundel Stuart, as he delivered the feature address at the Caribbean Renewable Energy Forum being held at the Hilton Barbados.

“Our studies have indicated that a renewable energy matrix could be achieved within the next twenty years where renewable energy generation would account for 29 per cent of electricity consumption, with the remaining 71 per cent coming from conventional fossil fuel based resources. Achievement of this energy matrix could reduce total electricity costs by US$283.5 million over the next twenty years,” Stuart reported.

He added that this reduction of electricity consumption would also directly affect the amount of funs spent on importing oil, reducing the number by a significant amount.

“It could account also for an overall 22 per cent reduction in electricity consumption compared to a ‘business as usual’ scenario. In that way, Barbados would be able to reduce the cumulative cost of oil imports over twenty years from US$2.648 billion to US$1.978 billion,” Stuart said.

To ensure that these goals are achieved, the Prime Minister spoke of the Government’s vow to never allow the pace of implementation to slacken. He then referred to the policies of energy efficiency and renewable energy which have already been approved by the Cabinet, while the requisite legislation is expected to be submitted to Cabinet by the end of October, and the legislative amendments to be presented to Parliament by the end of 2011, or early 2012.

“This policy and the attendant legislation are intended to ensure that the Barbados electricity sector should develop in a way that promotes the use of renewable energy while lowering the cost of power to the greatest extent possible,” Stuart explained.

Category/ies:Barbados News.
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