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Who supports solar power in the Bahamas?

This goal is supported by the Inter-American Development Bank (IDB) and the Bahamas Development Bank (BDB). Currently, solar power makes up less than 1% of all energy generated in The Bahamas. Oil is responsible for nearly all power generation with a 99% share of electricity production.

Does the Bahamas need a solar power plant?

The need to protect the tourism industry is an added incentive. In 2023, the Bahamas opened the first of two solar plants in Grand Bahama. The two solar plants are expected to cut more than 5,000 tons of CO 2 emissions per year. The government pledged to generate 30 percent of the country's energy from renewable sources by 2033.

How much power does the Bahamas have?

The Bahamas Electricity Corporation (BEC) controls 438 megawatts (MW) of generation capacity, while Grand Bahama Power Corporation (GBPC) controls the remain-ing 98 MW. Generation is currently fueled by all imported petroleum with a mix of diesel (56.5%) and heavy fuel oil (43.5%), totaling 1,930 gigawatt-hours (GWh) for the entire country.

How will the Bahamas reform its energy sector?

The Government of the Bahamas has discussed plans to reform its energy sector through a partial-privatization of BEC and by introducing regulation-by-contract principles to meet the capacity for future growth, implementing more economically viable renewable energy sources, and modern-izing the energy sector.

Who owns electricity in the Bahamas?

Majority-owned by Emera Inc. Based on average global generation costs for renewable technologies, electricity rates in the Bahamas offer an oppor-tunity for renewable energy to diversify the fuel portfolio and reduce rate volatility.

Is the Bahamas a difficult place to generate electricity?

BPL Chairman Donovan Moxey was quoted in a Tribune Business news report. The Bahamas is a very difficult place to generate electricity, distribute it and sell it, even as compared to other Caribbean islands, Chris Burgess, Islands Energy Program projects director, told Solar Magazine.