The Government of Barbados has officially launched a major procurement process for the country's first large-scale Battery Energy Storage Systems (BESS), aimed at transforming the national electricity grid and unlocking delayed renewable energy investments.
Since 2010, the average cost to install solar panels on a home has fallen by approximately 50%. However, costs slightly rose from 2020-2023 due to supply chain tangles. Solar panels cost about $21, 816 when purchased with cash or $26, 004 when purchased with a loan for a 7.
Up to 60 megawatts of battery storage will be tendered in what officials described as a competitive, transparent, and technically rigorous process. Projects will be backed by long-term, bankable contracts and supported by a liquidity guarantee facility administered by the Central Bank.
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With the current grid unable to absorb more intermittent solar energy, battery storage is the key to unlocking a backlog of projects and enabling 24/7 renewable power. The RFP documents, including all technical and legal requirements, will be available for download starting July 9.
Barbados is soon to launch its first project for the installation of Battery Energy Storage System. This will support the electricity grid and will allow the stalled solar photo voltaic (PV) systems to proceed.