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In an effort to wean itself off fossil fuel, Barbados has announced tax exemptions for the import of numerous renewable energy systems
It’s an unfortunate fluke of fate that the world’s smallest island nations are among the lowest greenhouse gas emitters, yet the most exposed to climate change. Yet, that fact hasn’t deterred Barbados from unfurling an energy strategy to enable a greener, cleaner economy.
Today, 96% of Barbados’ energy consumption is based on fossil fuel. Going forward, the policy stance of Prime Minister Mia Mottley’s government is clear: by 2030, Barbados will be “fossil fuel-free at best, and at worst nothing less than carbon neutral,” says Wilfred A. Abrahams, Minister of Energy and Water Resources.
In an effort to meet these goals, Mottley’s government has announced the exemption of import duties for a wide range of renewable energy systems, including wind turbines, solar photovoltaic, bio-fuel, hydropower and others. Ultimately, Barbados hopes to set an example for the rest of the world, establishing a lab to research green energy solutions in partnership with foreign engineers and investors.
EYE ON BARBADOS NATIONAL OIL COMPANY (BNOC)
A legacy energy player, the Barbados National Oil Company (BNOC) oversees exploration and production operations in onshore oil and gas, and is now exploring renewables. These operations in exploration and production activities are conducted in the Woodbourne, Edgcumbe and Lower Greys field and in the past the Scotland and Fisher Pond areas, producing 10 million barrels of crude oil, 22,8 billion cubic feet of associated natural gas, and 274,000 barrels of liquid petroleum gas within the last 20 years. In downstream operations, the company supplies a wide range of products, such as motor gasoline, diesel oil, fuel oil, and heavy fuel oil. Recently, BNOC established a renewable energy arm that is committed to deploying about 300 domestic photovoltaic systems (PVs) a year for the next 10 years across the island.
Now, Barbados National Oil Company (BNOC), a legacy oil company, is also shifting to renewables. “We have been transitioning our operations strictly from fuel operations to renewable energies,” says James Browne, CEO of BNOC. “We have a couple of projects that have already started,” he adds, noting that this strategy will coincide with new offshore energy development.
Barbados is of course not new to renewable energy development. Founded in the 1970s, Solar Dynamics, a homegrown pioneer in solar water heaters, has helped to position Barbados in renewables.
“Today we have one of the highest densities per capita of solar-powered heaters in the world,” says Prime Minister Mottley. With her government’s green policy goals, the island’s reputation in renewables is bound to only keep on growing.
