Issued to address the growing concerns about the predominance of imported fossil fuels in the country's energy sector, and increase the efficiency and sustainability of energy supply and demand the document Barbados Draft National Sustainable Energy Policy was prepared as the part of the Sustainable Energy Framework of Barbados and is now being subjected to thorough review and update.
Barbados' primary energy requirements are met almost entirely through the use of fossil fuel resources, most of which are imported. Oil-derived products contribute to the overwhelming proportion of these primary energy requirements and oil import alone contributed to about 11 percent of Barbados' Gross Domestic Product (GDP) in 2011. Both the costs of the oil import and the effects of insufficient diversification of energy resources on the country's energy security are the concern for the Government of Barbados. Therefore, the Government of Barbados will give priority to sustainable energy to address these concerns. The National Sustainable Energy Policy focuses on promoting technologies that reduce energy costs while also reducing oil dependency and decreasing the potential impacts of local environmental pollution and global warming. Consistent with Barbados' Sustainable Energy Framework the objectives of the National Sustainable Energy Policy include:
- Reduction of energy costs
- Improvement of energy security
- Enhancement of environmental sustainability
The government of Barbados intends to meet these general objectives by pursuing specific objectives for the key areas of the National Sustainable Development Energy Policy namely renewable energy, electric energy efficiency, efficiency in the use of non-electric energy, sustainable supply and demand of fossil fuels, and energy education and awareness. These objectives will be achieved through the implementation of legal and regulatory instruments and other incentives.