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Barbados energy storage subsidy

The Fair Trading Commission (FTC) has developed a framework for a four-year energy storage pilot project that could see qualified applicants receiving an energy storage tariff (EST) for up to ten years and the data used to inform the design of future energy storage programmes.In a summar
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BESS Battery energy storage system BLPC Barbados Light & Power Company Limited BNEP Barbados National Energy Policy 2019 - 2030 CAPEX Capital expense ELPA The Electric Light & Power Act EST Energy storage tariff EV Electric vehicle FIT Feed-in-tariff FTCA The Fair Trading Commission Act, CAP. 326B (as amended)

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Operating subsidy of €0.14-29 per kWh. The funds will provide an operating subsidy to projects for each kWh of energy they discharge into the electricity market during peak demand hours when there is typically a shortage of renewable energy generation. The initial estimate for the subsidy is €0.14-29 per kWh of energy discharged.

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About Barbados energy storage subsidy

About Barbados energy storage subsidy

The Fair Trading Commission (FTC) has developed a framework for a four-year energy storage pilot project that could see qualified applicants receiving an energy storage tariff (EST) for up to ten years and the data used to inform the design of future energy storage programmes.In a summary of its EST decision, the FTC explained that there were challenges associated with achieving Barbados’ goal of becoming 100 per cent reliant on renewable energy sources as that required the steady integration of renewable energy sources into the national electricity grid.With the majority of the island’s renewable energy supply coming from solar photovoltaic systems, which is a form of intermittent resource that tends to introduce stability and sustainability issues, the FTC said mitigation measures were therefore necessary.“As a result, the Government of Barbados has identified energy storage as an appropriate means of mitigating the effects of these intermittent resources,” the FTC said in the EST decision which it said was developed following a period of consultation with stakeholders from March 31, 2023 to April 21, 2023.

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