Bahamas - Renewable EnergyBahamas - Renewable Energy
The energy sector is undergoing structural changes that are likely to yield prospects for U.S. exporters and investors. The country is taking steps towards developing an independent energy regulator with statutory authority and began efforts to modernize the administration of the energy sector. U.S.-based PowerSecure (a Southern Company subsidiary) recently commenced a management contract with the national utility, Bahamas Power and Light (BPL), and has initiated an ambitious five-year program to modernize power generation and transmission on the main island of New Providence. The government, meanwhile, has announced plans to solarize several islands and has committed $50 million for new investments in renewable energy. It also legalized grid-tied residential solar installation in June, and experts expect permitting to begin in early 2017.
Sub-Sector Best Prospects
Utility-and residential-scale solar, energy efficiency products and services, multi-fuel power plant equipment, smart meters.
RFPs for utility scale solar in the Family Islands is expected by early 2017.
Bahamas Electricity Corporation: http://www.bahamaselectricity.com/
Utilities Regulation and Competition Authority: http://www.urcabahamas.bs/
The Bahamas Ministry of Public Works: http://tinyurl.com/BahMinWorks
|Market Size||$1.29 billion||NA||NA||NA|
|Local Production||$523 million||NA||NA||NA|
|Total Market Size||$1.29 billion||NA||NA||NA|
$US thousands (total market size = (total local production + imports) - exports)