Barbadians will now have the opportunity to become small power providers to the national grid. A July 13th decision by the Fair Trading Commission (FTC) to review the Renewable Energy Rider (RER) has facilitated wealth creation at the lowest-income level.
Shifts in rate structure and the amount of energy that individuals and companies could invest in was raised from 150 to 500 kilowatts under the RER. The FTC set fixed rates of 41.6 cents per kilowatt hour for solar photovoltaic systems which feed power to the grid and 31.5 cents for wind-generated energy. Rates were de-linked from the volatility of crude oil prices and Barbadians allowed to invest in larger electricity-generating systems.
Finance institutions, community-based organizations and businesses will continue to have the opportunity to generate revenue; but the new platform specifically targets individuals for the purpose of wealth creation. Importantly, the decision provided greater certainty for investors and broadened the capacity and, consequently, earning capability of investors. The Barbados Renewable Energy Association (BREA) will further inform about this new model a regional conference and exhibition November 10-11 at the Lloyd Erskine Sandiford Centre, which it is hosting.
Read the full article here:
http://www.barbadostoday.bb/2016/09/21/energy-to-create-wealth/
