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activities for each responsible agency to pursue. Finally, the NEP identifies international sources of financing and technical expertise advantageous in achieving the policy (NEPC 2008, pp. 14–26, 28). The short-term targets and objectives include completing a renewable energy assessment and developing energy-use metrics, starting an energy-conservation program, phasing out incandescent lights, and monitoring fossil-fuel losses. In the medium term (5 to 10 years), the plan calls for increasing building efficiency, installing RE capacity in small communities, piloting reverse thermal gradient cooling and ocean thermal energy technologies, and assessing biomass and ocean sources. Among other long- term goals, the plan calls for the Bahamas to establish funding mechanisms for energy technology innovation and a program to minimize GHG emissions. Throughout these phases, the plan also stresses the transportation sector through integrated traffic management, increased public transportation, and fuel economy standards (NEPC 2008, pp. 14–17). The draft NEP identifies the Inter-American Development Bank as one of as the primary sources of funding for energy assessment in the Bahamas through two technical cooperation grant programs, the Sustainable Energy Climate Change Initiative (SECCI) and the Infrafund. The SECCI promotes energy and environmental programs, and aims to claim carbon credits. The Infrafund is specific to the BEC utility, supporting efficiency and RE capacity assessments. The Bahamas NEP identifies several sources of technical assistance, including the Global Environmental Facility (GEF), the CREDP, the EU Energy Initiative (EUEI) through the Caribbean Sustainable Energy Program (CSEP). The Global Environmental Facility will assist in the phase-out of incandescent lights, supply and installation of photovoltaic cells and net metering/billing, and supply and installation of solar water heaters. The CREDP will assist with the development of a comprehensive energy policy. The European Union Energy Initiative—through the Caribbean Sustainable Energy Program (CSEP)—will assist with generating legislation and policies that define electricity supply activities and promoting energy efficiency and conservation in coordination with the IDB. A public-awareness campaign and the dissemination of findings of the two IDB reports identifying and mitigating barriers to RE adoption also are planned (NEPC 2008, p. 30). 3.2.9 Conclusions and Recommendations • Despite the efforts, there are no measurable benefits from current legislation and projects developed in the country to reduce the rate of oil importation and consumption found during the period of analysis. Oil consumption still is increasing and internal volatility is affecting national energy security. International agreements were found to have no measurable impacts on fossil-fuel consumption rate during the period of analysis. Previous studies have indicated that the Bahamas should perform the following tasks. • Give the PUC the appropriate regulatory authority over electrical utilities. An independent regulator (such as the PUC) would provide the expertise, transparency, and accountability required to set and monitor RE targets (Wilson 2009, p. 33). • Create incentives to encourage the development of RE technologies (Wilson 2009, p. 33). This study recommends that the Bahamas also should complete the following tasks. • Finalize and adopt the NEP. Work on many of the medium-term objectives can be started immediately if the proper expertise, investment, and policymaking can be coordinated. • Assess its high per-capita electrical consumption in comparison to the overall regional consumption. • Assess wind potential among populated islands other than Grand Bahama. 37PDF Image | Energy Policy and Analysis Caribbean
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