LNG facilityOn Monday, March 21st, Minister of Economic Development, Dr Grant Gibbons, tabled a report in Parliament titled "Viability of Liquefied Natural Gas [LNG] in Bermuda".

The report sought to answer the question of whether LNG is preferable to the current heavy oil/diesel mix used by BELCO for electricity generation in Bermuda. Not surprisingly, the report's authors answer with a resounding 'yes'.

2015 annual report pic2015 was a year of change for Greenrock, but we continued to develop and deliver quality programmes and projects.

There can be no denying that the charity sector, of which Greenrock is a member, continues to experience challenging times, as has largely been the case since the 2008 Economic Crisis. Despite these challenges, Greenrock has expanded our programmes in schools and continued to engage the community to share solutions for a sustainable Bermuda.

+ Read more in our 2015 Annual Report

The future of our electricity supply is an important topic for debate and has a significant impact on Bermuda's 'triple bottom line' of Environmental, Social, and Economic Sustainability. Earlier this year the Department of Energy published a new Electricity Policy, and have just followed this by tabling a new Electricity Bill for Bermuda.

Solar's big heyday may be just three years away as the unsubsidized cost of panels plus storage is set to become cheaper than retail power supply in several large markets, Bernstein said.

"The math would work in: Australia, Japan and Spain. Brazil and parts of California will become economic shortly thereafter," Bernstein said in a note last week. "At that point, solar without subsidy and without kid-glove regulatory treatment, would - if combined with energy storage solutions - be capable of supplying electricity ('on' and 'off')."

It expects solar will reach a cost below $0.40 a watt by 2018, leading to a combined cost of the solar-plus-battery electricity supply of $0.24 a kilowatt hour on an unsubsidized basis in select markets, including Australia, where residential retail power averages $0.26 a kilowatt hour.

+ Full article...

This is the beginning of the end.

The race for renewable energy has passed a turning point. The world is now adding more capacity for renewable power each year than coal, natural gas, and oil combined. And there's no going back. 

The shift occurred in 2013, when the world added 143 gigawatts of renewable electricity capacity, compared with 141 gigawatts in new plants that burn fossil fuels, according to an analysis presented Tuesday at the Bloomberg New Energy Finance annual summit in New York. The shift will continue to accelerate, and by 2030 more than four times as much renewable capacity will be added. 

"The electricity system is shifting to clean,'' Michael Liebreich, founder of BNEF, said in his keynote address. "Despite the change in oil and gas prices there is going to be a substantial buildout of renewable energy that is likely to be an order of magnitude larger than the buildout of coal and gas."

+ Full article...

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