Deputy Prime Minister Philip Davis advised the House of Assembly yesterday that the amendment to the Electricity Act became effective last Friday and it now enables persons to install and operate renewable energy generating stations, which can be connected to the electrical grid.

“Passage of time and focused determination have given witness to revolutionary legislation that advances us into a renewable energy age for The Bahamas,” Mr. Daivis said. “We fully expect the reawakening of our entrepreneurial spirit as regular citizens become empowered to produce energy for themselves and others through the grid tie connections.”

He explained that this “entrepreneurism” is supported by the provision for the Residential Energy Self Generation Programme (RESG), which gives diverse benefit to consumers.

Davis noted that even though The Bahamas’ dawn for the Renewable Age lags behind global trends, the country has been judicious in its approach to catch up by empowering citizens to become independent power producers.

“With the RESG Programme, the opportunity exists to generate energy through alternative energy sources, tie into the current electrical grid, and to receive a credit for excess electricity fed into the grid,” Davis explained.

According to the deputy prime minister, the Act further provides for the registration and regulation of renewable energy generating stations.

“This is a great time in our history because, for renewable technologies, we have created new opportunities for jobs including manufacturing, project development, construction and wind turbine installation, operations and maintenance, transportation and logistics, and financial, legal, and consulting services,” he said.

He pointed out that the government looks forward to entrepreneurs seizing opportunities to hire workers for solar installation, manufacturing, and sales.

Davis explained that renewable technologies are not beyond the reach of the average citizen and government has eliminated tariffs on inverters for solar panels and LED appliances to ensure that more Bahamians would be able to afford energy saving devices.

He noted that the country has also witnessed the reduced cost of renewable energy technologies around the world which are projected to drop even more.

“For example, in the United States, the average price of a solar panel has dropped almost 60 percent since 2011, and the cost of generating electricity from wind dropped more than 20 percent between 2010 and 2012 and more than 80 percent since 1980,” the deputy prime minister said.