Executive Summary of BPL’s Renewable Energy Plan
While renewable energy and energy efficiency are complementary alternatives to conventional generation, transitioning to them needs to be done in a thoughtful and iterative process that ensures that the core needs of the system – including stability, reliability, and financial viability, are met. The electrical system underpins the economic foundation of the Bahamas – so it is essential that it continues to operate as well as or better than the current operating system standard during and after the introduction of renewables if the uptake of renewable energy and energy efficiency is to be fully realized.
The Government of The Bahamas aims to achieve a significant renewable energy penetration by 2030 in order to replace expensive generation from fossil fuels and reduce dependency on fuel imports. According to the National Energy Plan, the target is to achieve 30% of electricity generation from renewable sources of the total generation portfolio. Given that the current renewable share is less than 1% of the overall generation, an ambitious and fast track program is required to achieve this target.
In that respect, a 5-year Renewable Energy Plan for New Providence and the Family Islands has been developed. This plan shows a path for the next 5 years to achieve the 2030 National Energy Plan Goals and outlines estimated level of investment that is needed to achieve these goals.
