2019/20 Budget Communication Final Budget Communication | Page 42

In addition to the $20 million we have allocated to education and training in the Budget,
we are commencing the first phase of a $9.3 million dollar project to enhance BTVI, with an
emphasis on upgrading infrastructure.
We made a commitment to not only creating more
educational opportunities to our citizens, but also to dedicate resources to the upkeep and
development of both new and existing institutions. Starting with the $2.7 million allocated for this
budget year the BTVI Enhancement Project will be centered on the upgrade of the current BTVI
campus, with a particular focus on developments related to Information Technology. Investing in
our youth is critical to the advancement of this nation, and we will see to it that we continue to
pour into them accordingly.
ii.
Renewable Energy and Solar Power Initiatives
In the area of energy conservation, one of the initiatives, adopted from our 2017
Manifesto, is a move toward renewable energy, particularly in the Family Islands. To this end, the
government is seeking, with the funding support of the multilateral community, to provide for over
$170 million over the next 8 to 10 years to introduce commercial scale solar energy opportunities
throughout The Bahamas, with particular emphasis on the Family Islands. The full outline of this
plan and how it fits into our broader energy strategy will be elaborated on during the budget debate.
Our efforts around green technology this fiscal year will mark the commencement of
the Street Light Retrofitting Project, which is also being funded primarily through financing from
the Caribbean Development Bank. This project will facilitate the conversion of street lights to
LED lights and the installation of a smart street light grid system with central controls.
Currently, street lighting accounts for more than 30 percent of our electricity
consumption, and roughly 3 percent of the country’s overall energy consumption. This project is
intended to reduce the cost of street lighting by 20 percent. In dollars, that translates into savings
in the Government’s electricity bill of approximately $3 million per year over the next two decades.
It also obviously represents a corresponding reduction in the demand for fuel and the foreign
exchange outflows that accompany same. In addition, the establishment of a smart street light grid
with central controls will allow us to monitor conditions along the entire grid, including the ability
to adjust lighting depending on overall system demands.
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