BVI can save roughly $80M over 5 years if residents, businesses adopt greener practices
Government has said the territory could save approximately $80 million by 2025 if residents and businesses begin to adopt Green and SMART technology and practices.
Premier Andrew Fahie said those funds would be saved through major reductions in the territory’s fossil fuel consumption.
He said the territory’s estimated fossil fuel consumption stands at 1 million gallons per month. The Premier, who is also Minister of Finance, said the territory’s currently spends an average base price of $2.18 per gallon.
“That is $26.16 million per year, and $130.8 million over five years, that is leaving our shores to enrich other countries and other economies. Put it another way, the BVI people and our economy loses $26.16 million every year by importing fossil fuel,” Premier Fahie stated.
“As our economy grows, our fuel consumption will grow even further beyond the 1 million gallons per month, and this means even more money will be leaving our shores.”
Millions to be saved
The Premier, however, said that by adopting various Green measures such as the use of renewable energy in businesses and homes, coupled with the many initiatives government has been implementing to ensure the territory is 60 percent Green by 2030, the consumption of fossil fuel will vastly decrease in the BVI.
He said: “Green energy is free. Thus, by reducing our fossil fuel consumption by 60 percent, we can reduce this leakage by about $15.7 million per year, based on the current usage and prices. That would be savings for the people of the Virgin Islands of $78.5 million dollars over the next five years.”
“Compressed Natural Gas (CNG) and LPG are cleaner and cheaper fuels. Therefore, there will be even further savings and benefits for the BVI people when we switch to CNG and LPG for the remaining 40 percent of our fuel needs,” he added.
Meetings with public to be had
Premier Fahie also said that in moving forward to ensure that residents are fully knowledgeable of all the benefits associated with renewable energy, a number of district community meetings on the matter have been scheduled for next month.
“Your Government intends to commence a series of public awareness meetings in March 2020 to educate the population on how they can participate in our Green economy and how you can go about accessing the benefits and incentives of our Green initiatives,” Premier Fahie stated.
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Can save far more than that by getting rid of useless consultancies. That or stop overpaying them for their “service”.
Thanks for that quick shot across the bow. . Another way to save millions would be for government to construct our own buildings instead of Renting and paying off the mortgages for privately own buildings.
The government routinely leases buildings owned by government officials and their families and friends at above market rates, the very definition of cronyism. To boot, the govt pays for (usually necessart) building improvements.
Government and the owner were the only tenants in the Cutlass Building until the restaurant on the roof opened. Why weren’t there any private tenants? Enquiring minds want to know?
Greener isn’t always cheaper or more reliable. Please do some research before misleading the people.
He’s a UN puppet. These industries will just enrich UN cronies. Greener is not cheaper. And, in many cases, like float panels there’s no plan for disposal of worn out equipment
Also, the green equipment is made from fossil fuels. And other chemicals that are dangerous.
He said: “Green energy is free. Thus, by reducing our fossil fuel consumption by 60 percent, we can reduce this leakage by about $15.7 million per year, based on the current usage and prices. That would be savings for the people of the Virgin Islands of $78.5 million dollars over the next five years.”
Green energy is FREE? Oh?
Oh dear, are these his own estimates? The cost of green energy infrastructure is far more than zero. When electric cars become the norm far more electricity will be needed, plus charging stations, either at gas stations, homes or car parks.
If we have solar or wind farms think of the installation costs of the farms and cabling to the grid. You know there will be huge resistance from the public to increasing unit prices to pay for all this. And how are businesses to switch to gas? From what?
The idea is good but it is fraught with problems.
Everybody in the bvi seems so keen on buying the smallest bottles of water available to drink their water.
Why not fill up at a refill station and have a reusable water bottle. It’s cheaper and saves the environment a lot of plastic.
Because the two water vending companies have let their machines go to crap. Sad
When those machines were brand new people couldn’t be bothered.
Also if you don’t like the machines you can still buy water by the galon instead of those silly 500ml bottles from Roxeanne.
Keep selling…we will all eventually see who are the ones on the top of the food change. The double-speak premier at it again. Has no clue about the industry; savings to be had…but the question is, from who? Let’s see who all have been selected to offer us those big savings. This VIP government will be fully worked over, by those who know their weaknesses, before they are thrown out of office.
Good thing….but green power is not free..
With all them big jeeps and SUVs you all like to drive?
Some people in BVI fuss about everything
This coming from BVI Government is laughable and very late. The government that OUTLAWED solar and wind power less than a decade ago. Keeping your people paying the highest electrical utility costs in the world, so that those government officials invested in the utility could line their pockets and fill their private bank accounts. Criminal. What’s in it for you this time?
The alternative energy legislation drove both of our alternative energy companies to other countries because our forward thinking government made the industry economically unfeasable. While it is the norm here to ignore enacted legislation, you have to be born-here to get away with running a business that way.
If the premier is serious about alternative energy he needs to make all such equipment duty-free, force BVIEC into sorting their infrastructure to allow buy-back, and change the legislation to help the industry.
I am so tired of figures being thrown around in this place by clueless Governments. We all know CSO does not have proper statistics so how the hell they coming up with these “guesstimations”. Same game, different players. BVI people, wish you the best of luck!
It is clear from the statements above that these blogs are infested by non Virgin Islanders whose only mission is to divide BVI people.
Our myopic electricity company could stand to invest in some wind powered energy sources. Maybe then, despite their completely new distribution system, then can end the random and wholly indefensible power outages that continue to plague Tortola.