There has been an aggressive push toward renewable energy in Barbados so far this year, with major companies leading the way by implementing photovoltaic systems and generally making attempts to go green to save money and protect the environment.
Major companies in Barbados such as BICO and Red Advertising have joined those looking to save electricity cost and finding greener ways to do business.
Ralph “Bizzy” Williams, founder and chairman of Williams Industries Inc., has widely discussed the importance of Barbados going toward alternative forms of energy as he has led many discussions on projects such as wind farms, waste to energy plant, etc. A few months ago at Red Goes Green, he commended individuals and companies for realizing the benefits of PV technology both from an environmental and financial standpoint.
It has been said in many forums that there has been an explosion in renewable energy in Barbados. A few months ago, Adrian Carter, 2014 De La Rue Scholar and Former Central Banker, stated, “the development of the renewable energy market and photovoltaic energy requires regulation but also solutions to deal with this growing market and how it will impact the country. The growth in photovoltaic penetration is phenomenal, we expect this area of the market to continue to grow, but this growth will also bring challenges to the market, that has to be addressed using unique methods because of the uniqueness of our market.”
The step toward photovoltaic technology is expected to improve business. A renewable energy system has been installed at BICO at a cost of around $900,000, which is intended to have pay back in three years, thus reducing demand of fossil fuels and improving profitability. Speaking recently as the new system was unveiled to local media and industry associates, BICO’s executive chairman, Edwin Thirlwell, said “The PV system installed and commissioned by Emera Caribbean Renewable is expected to shave thousands of dollars per annum off BICO’s energy bills, thereby having a significant impact on the company’s operating costs especially in the Harbour Coldstore Division.”
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