Bermuda’s energy future

energy future for Bermuda

As we monitor and assess improvements in alternative power-generating technologies, BELCO remains firmly committed to our B100 initiative and we are focused on transitioning to a renewable power system.

We are also committed to achieving carbon net zero for our operations by 2050. Carbon net zero means that by 2050 we will add no more carbon to the environment than the amount removed. This commitment also includes taking actions to offset the carbon footprint of all of our employees.

While we analyse the options for economical, large-scale, renewable power, we are laying the foundation to support Bermuda’s transition.

As part of the transition, the modern and efficient North Power Station was commissioned in 2020. This will be the last fossil-fuelled plant BELCO will ever build. We are currently making operational adjustments in mitigation efforts to ensure the plant is operating at optimal efficiency and with minimal impact to the surrounding neighbourhood.

In the past year, work was completed to dismantle old, retired engines including five exhaust stacks, and to remove unused equipment and recycle metals. As part of our sustainability and environmental commitment, we are also remediating soil, and improving internal sustainable practices and efficiencies.

As part of our efforts to further reduce our carbon footprint, we are transitioning to an entirely electric commercial vehicle fleet. BELCO operates an intermediate/light vehicle fleet of which 84% are EVs. The remaining non-EVs will be retired from the fleet once they have reached the end of their useful lives and replaced with EVs.

BELCO also operates a heavy vehicle fleet which includes specialty vehicles like bucket trucks, recovery trucks, pole digger trucks and winch/crane trucks. While the intention is to transition this fleet to EVs, currently there is no viable option to meet the company demands for these vehicles. Given the rapidly developing technology in these vehicles, BELCO plans to start the transition to an electric heavy fleet in 2024.

Work also continues on upgrading our transmission and distribution infrastructure that will ensure a safer, more reliable grid that will also be capable of accommodating the intermittent nature of most renewable technology as they come online. One of the first phases of the grid modernisation project was in the east end to accommodate the 6 megawatts of power from the Airport Finger Solar Installation which is now feeding into the grid.

One of the ways we are reducing our carbon footprint and transitioning to a more environmentally sustainable

Company is by encouraging our customers to sign up for e-billing which reduces our paper usage.

We have also encouraged and empowered our staff to volunteer their time to support registered charities and community initiatives focused on sustainability. This has included projects such as participating in Keep Bermuda Beautiful clean-ups, spending the day at Wind Reach to help to beautify the animal zone including sanding, painting and other tasks, assisting the Bermuda Audubon Society and Bermuda Aquarium Museum and Zoo as part of our community day initiatives.

Our journey to sustainability is ongoing and it will not be completed overnight. We are making steady progress towards our goals and will continue to keep the community informed as milestones are achieved, and we move forward in building a cleaner, greener Bermuda.

Are you wrestling with the ever-increasing cost of gas for your car or your hefty utility bill? Not only do they put a big dent in your wallet, the fossil fuels they use are also a ‘double hit’ to the environment and climate change.

By installing energy efficient, renewable energy features in your home, and switching to an electric vehicle, you can lower your energy bills and lower your carbon footprint at the same time.

But how do you pay for these eco-friendly items? HSBC Energy Efficiency (EE) and Electric Vehicle (EV) Loans are a great solution. HSBC Energy Efficiency (EE) and Electric Vehicle (EV) Loans can help you afford the up-front costs of energy solutions, so you can benefit in the long term.

The Energy Efficiency Loan must be wholly used for the purposes of installing energy efficiency, renewable energy, and clean transportation equipment at home.

EV Loan refers to loan products that are solely for the purpose of financing customers to purchase Electric Vehicles or Plug-in Hybrid Vehicles. Electric Vehicles are vehicles that utilise rechargeable battery packs and electric motors. Plug-In Hybrid Electric Vehicles are vehicles that combine a conventional internal combustion engine system with an electric propulsion system that utilises a rechargeable battery pack.

For qualified applicants, HSBC Energy Efficiency (EE) and Electric Vehicle (EV) Loans are available with a zero-down payment on the full amount of your loan. Plus, you can borrow for up to seven years, which is the longest available term HSBC offers on an unsecured loan.

Online

By applying for HSBC Energy Efficiency (EE) and Electric Vehicle (EV) Loans using online banking, you can have the $200 negotiation fee waived.

To apply for HSBC Energy Efficiency (EE) and Electric Vehicle (EV) Loans visit HSBC.bm or telephone: 299 5959.