The next PLP government will recognise that the Green Economy can be one of the main drivers of our economic growth in the next decade. This is a place where additional government investment can make a real difference in building this industry, stimulating employment and installing infrastructure that will save the government money in the long run.
Vision 2025 would see a PLP government take the lead by in investing in the Green Economy, by outfitting government buildings with renewable energy generation technologies enabling the government to become a net producer of energy. In today’s dollars that would result in $20 million less in annual spending. Vision 2025 would also see the government convert its fleet of light vehicles to hybrid and electric vehicles.
We would require smart meters from energy utilities to ensure citizens are aware of their real time energy consumption and would promote investments in a smart energy grid. The PLP would also extend the existing rebates for private homes to eligible commercial properties and drive growth in this budding industry.
Additionally, we will make recycling mandatory, which will lower the cost of shipping to Bermuda as we could export our recycled waste, which means more export traffic for our ships and lower overall shipping costs for consumers.
Though investment in the Green Economy is vital, for a secure energy future we will always require a provider of last resort. Vision 2025 will see BELCO complete its transition to Liquefied Natural Gas, a project that will yield significant investment in our energy infrastructure and will create dozens of jobs in the process. In 2025, when Bermuda is producing a significant amount of energy from renewable sources, the impact of external events will be less pronounced on our economy. Additionally, instead of spending millions of dollars on importing fuel, that money will stay in our local economy.