Renewable energy is an obvious choice for Barbados. We are a future-focused nation, committed to playing our part in the global effort to combat climate change.
Our future is green and bright. In Barbados we have an ambitious target to become 100 per cent carbon neutral by 2030. This is an attractive space for investment. The ambitious plans are backed up with financial incentives and support for private sector investors. These include duty free concessions when importing renewable energy equipment, income tax holidays for up to 10 years and other incentives for research and product development.
So far the focus has been on solar photovoltaics (perfect for our sun-soaked tropical island), but the government is also exploring other renewable sources like wind, wave and biogas. Find out more by reading the Barbados National Energy Policy and the Fiscal Incentive Booklet published by the Ministry of Energy.
Why choose Barbados for renewable energy?
- Tropical island that can capitalise on alternative energy sources such as solar PV, wind, waste to energy and wave
- Knowledgeable workforce, trained in photovoltaic installations and maintenance at local institutions
- Reduction or exemption of import duties and VAT on inputs
- Tax holiday of 10 years for developers, manufacturers, or installers of renewable energy systems and energy efficient products
- Other incentives including incentives for research & product development