The construction of Bermuda’s first solar farm near the airport is still potentially on the cards, Economic Development Minister Grant Gibbons has revealed.

Dr Gibbons told the House of Assembly on Wednesday that the Department of Energy would develop a “request for proposal” for a utility-scale solar photovoltaic development at “the finger” at LF Wade International Airport.

The minister also maintained that the regulatory reform project would remain a priority for the department in the upcoming fiscal year.

“Developing new energy options requires a new framework of policy, legislation, and regulation,” Dr Gibbons said.

“The current framework, developed when liquid fossil fuels were the only viable option, lacks the flexibility to integrate new options.

“The updated framework must also ensure that the benefits of introducing new technologies into Bermuda are shared by the consumers, the utility and the Government.”

Dr Gibbons told the House that the Department of Energy’s budget for the upcoming year would be $988,000.

He said the decrease of $52,000 from the previous fiscal year was attributable to several factors, most notably the termination of the Solar Rebate Initiative.

“There have been over 200 photovoltaic systems installed, for an installed capacity of approximately one megawatt,” Dr Gibbons said.

“There have also been approximately 100 solar thermal systems installed during this time. The department has paid out over $540,000 in rebates for both initiatives over the last two years.

“It is therefore safe to say that these rebates have achieved their goal of encouraging the uptake of residential-scale renewable energy systems, with the added benefit of creating construction jobs in the economy.”

Dr Gibbons said the department was keen to co-host another Energy Summit this year and would focus on creating a transmission and distribution licensing framework, so that the rules of engagement with Belco by independent power producers became more well- defined.

In the coming financial year, the department will also attempt to create a licensing framework for utility-scale renewable energy facilities, review the duty rates on fuels to introduce incentives for the use of high-energy, low-carbon emitting technologies, and explore the viability of LNG as an alternative energy source.