- Type: Energy Services
- Investor: CDB
- Category: Sustainability
- Value: $10M
- Status: Planning
Residential Energy Efficiency Programme
Residential Energy Efficiency Programme (REEF)
Notwithstanding the achievements of the first phase of the Energy Smart Fund, further penetration of renewable energy (RE) and energy efficient (EE) technologies are still required to significantly reduce the demand and importation of fossil fuels. Consequently, the Ministry developed a second phase of the Sustainable Energy Investment Programme. The Programme will engage a three-pronged approach targeted at the residential, business/private and public sectors that encourages the use of alternative sources of renewable energy; promotes energy conservation, reduces the oil import bill and preserves the environment. The business/private and public sectors would be targeted under Energy Smart Fund II and the residential sector to be targeted specifically under the Residential Energy Efficiency Programme.
Objective of the Programme
This programme will provide incentives for households to access sustainable energy technologies including EE and RE. This sub-component is to be funded by the Caribbean Development Bank (CDB) through parallel financing.
The CDB hired a consulting firm to conduct a Design Study for the Residential EE Programme which commenced in September 2017. This study sought to:
- scope and assess suitable residential EE programmes for Barbados, which will raise awareness of EE/RE in the residential sector and increase the adoption of EE and RE technologies to ultimately lead to lower household energy consumption;
- develop social and gender criteria to reach also poor and vulnerable households; and
- provide a design guide for a recommended programme inclusive of any policy changes to facilitate successful implementation.
The consultants designed a programme which offers residents free installation of low-cost energy efficiency upgrades. The programme seeks to address several barriers to purchasing low-cost energy efficient products, the first of which is lack of awareness, motivation or capital to purchase the products.
The Cabinet of Barbados approved the design concept and the programme is currently in the final planning phase