Chairman of the Caribbean Renewable Energy Forum, Mr. Jerry Butler, is in The Bahamas making the case for a transition to renewable energy:
THE Bahamas has an “incredible opportunity” to diversify its economy by becoming a renewable energy exporter, a leading Caribbean expert yesterday saying it could emulate Israel’s 92 per cent penetration rate if it acted now to prevent the competition “blotting it out”.
Jerry Butler, chairman and principal consultant of the Caribbean Renewable Energy Forum (CREF), said matching the likes of Israel on sustainable energy take-up was “not a pipe dream” for the Bahamas if the political will and leadership were there, and the correct plan implemented.
Noting the Bahamas’ renewable energy export potential, given its proximity to the US, the world’s largest energy consumer with 25 per cent of the global market, Mr Butler added that a substantial domestic industry could be created through cutting this nation’s annual $1.2 billion fuel import bill by 25-33 per cent.
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Noting that it was not impossible to see the day when the likes of the airport, hotels and government buildings had solar panels installed on the roof, Mr Butler said Germany – which saw sun for just two-thirds of the year maximum – already had a 26 per cent renewable energy penetration rate.
“It’s a totally different visionary concept for what could be in the Bahamas,” Mr Butler said. “It’s not a pipe dream. This is workable for the Bahamas. We just need a vision that can be implemented with the right people, and need Bahamians behind it to sustain it.”
Mr. Butler cited the examples of Barbados and Trinidad and Tobago as Caribbean countries that are prioritizing renewable energy investment:
Noting the regional lead established by the likes of Trinidad & Tobago and Barbados, the latter of which has a 95 per cent residential solar water heater penetration rate, the CREF chairman said his organisation had helped the latter nation to create a $10 million smart fund for renewable energy investments.
After the CREF conference was staged in Barbados last year, that fund attracted another $80 million, funds now available for Barbadians to partner with international financiers and developers on renewable energy projects.
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Multiple [Caribbean] jurisdictions had plans to not only embrace renewable energy domestically, but export it. As examples, Mr Butler referred to Trinidad’s 2020 policy, which aims to build on its own substantial gas and energy reserves to pave the way to renewables, and Barbados’s 2025 policy, which speaks to growing this as a sector.
A Barbadian renewable energy company, he added, already had two representatives in the Bahamas, and was looking to export some 100,000 solar water heaters to other Caribbean nations.
Read more about what Mr. Butler had to say in the full article from the Tribune and in this report from the Nassau Guardian.