Renewable Energy

The government of Barbados has set 2030 as the year when the country will be generating 100 percent of its energy from alternative/renewable energy sources including solar, wind (on and offshore), biomass and tidal and ocean thermal energy generation.

Currently 160 megawatts are used throughout the island at peak demand periods. According to the Energy Division, the goal is to achieve 600 megawatts by 2030.

The opportunities available to those wishing to invest in the renewable energy sector include:

  • Renewable Energy Systems (Solar P.V., wind turbines, hydro systems, wave and tidal systems, etc.)
  • Energy Storage
  • Energy saving devices

Incentives and Factors

  • Reduction or exemption of import duties and VAT on inputs
  • Reduction in income and corporation tax:
    • Through individual/staff training
    • Through the marketing of related products and services
    • Research and product development activities

Key Pieces of Legislation

  • Electric Light and Power Act (2013)
  • Electric Light and Power (Amendment) Act
  • Electric Light and Power (Fees) Regulations
  • Electric Light and Power Act Proclamation

Stakeholder Agencies