The Barbadian government will receive $24 million as part of a large-scale effort to increase the island’s energy efficiency and develop alternative sources of energy, a regional development bank announced last week.
The monies – $17 million of which will be raised through a loan from the Inter-American Development Bank with an additional $7.6 million coming from a European Union grant – will fund Barbados’ Public Sector Smart Energy programme, according to a press release from the bank.
The programme will include retrofitting “at least” 12 government buildings with solar panels, replacing streetlights with energy efficient bulbs, and increasing the public sector’s energy efficiency, according to the bank.
The island’s 287,000 residents get about 90 percent of their energy from imported oil.
Measures planned under the programme would reduce Barbados’ carbon emissions by about 132,000 tons and save at least $45 million over 20 years, according to the bank. That savings could reduce customers’ monthly electricity bills by 15 to 20 percent, officials claim.
See the July 5, 2012 edition for full coverage.
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