The Renewable Energy Industry in CARIFORUM Countries

BARBADOS

RENEWABLE ENERGY INDUSTRY STAKEHOLDER ASSESSMENT

3.3.6 | RENEWABLE ENERGY COMPANIES

The energy policy and related regulations fully support the implementation of RE in Barbados. The target of 100% renewable by 2030 creates the market potential for RECs to be fully occupied. There are over 20 registered RECs but not all are functional. Some contraction did occur around 2015 in response to regulatory changes which led to some closure of smaller companies. The surviving RECs focus mainly on PV installation, manufacturing of LEDs and solar water heating (SWH) along with other energy services. RECs actively export services and assembled SWH and LEDs. There is also a striving EV sub-sector which support the national targets for emissions. Given the national priorities, the RECs have been encouraged by the availability of tax incentives for residential and commercial customers.

freelance labour. Additional experienced technical resources are available if required by a REC to fulfil their contractual obligations to clients. A low level of sub-contracting to the REC does occur on larger utility size projects (5MW+) funded by private investors. This has been driven by local and international private sector investment. These RECs have been in business for an average of 20 years, varying from 6 to 46 years of experience. Their scope of operations covers the entire local market for the residential and commercial segments along with overseas service and products. Their relationship with the other key stakeholders is depicted in the diagram below. While the RECs are fully engaged in the Barbados RE industry, there is clearly the need to improve relationships.

RECs have on average approximately 22 staff with only the smallest companies having to depend on

LEAD GOVERNMENT MINISTRIES

PRIVATE SECTOR INSTITUTIONS

REGIONAL INSTITUTIONS

RENEWABLE ENERGY COMPANIES

FUNDING AGENCIES

FINANCIAL INSTITUTIONS

HIGHER EDUCATION INSTITUTIONS

UTILITY REGULATOR

Figure 3.16 | Relationships of Barbados’ Renewable Energy Companies

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The Renewable Energy Industry in CARIFORUM Countries