Report asserts economic benefits of renewable energy for Bermuda

The new report commissioned by the Bermuda Chamber of Commerce (BCC), ‘Innovation Island’, outlines the opportunities and innovations that lay ahead for Bermuda. The report emphasises the budding role of investments in the renewable energy sector.

The report recommends Bermuda present itself as a beta site of the perfect size. A “global innovation island”, said executive director of the BCC, Ms. Kendaree Burgess, and “a place where new ideas can be tested”.

A self-sufficient approach to energy and food would also result in significant economic benefits, the report found. A 10 per cent switch to renewable energy would be equivalent to savings of USD 15 million a year, which currently go towards importing fuel from abroad.

Ms. Burgess added “we are in the right space to take ourselves to the next level”.