An environmental charity has called on Government to help shoulder the cost of switching to green energy.

And a Hamilton business representative has agreed that a financing structure to help swallow the bitter pill of upfront investment could encourage many others to make the switch.

“I think more can be done to help with the cost, beyond simply making them duty-free,” Jonathan Starling, the director of Greenrock, told The Royal Gazette .

“One thing we would like to see is the Government commit to renewable energy targets, along with statutory reductions of Bermuda’s greenhouse gas emissions. Renewable energy sources pay for themselves, especially when one factors in the true cost of fossil fuels, in terms of their economic externalities such as air pollution and human-induced climate change. They also help reduce the net flow of dollars out of Bermuda.”

Mr Starling said Bermuda’s small economy made it difficult to finance renewable energy projects that require high upfront capital, but with the participation of government, banks and the current utility it could be achieved.

He also suggested “solar photovoltaic rebate initiative”, which gives one dollar back per watt installed.

According to Grant Gibbons, the Minister of Economic Development, the new Electricity Bill 2016 will “redefine the incumbent utility”, which could signify the end of an energy monopoly by opening up electricity generation to other participants.

Larger companies who can cover their energy needs are enabled to “come off the grid” and alternative sources such as solar, wind and waste to energy production could join it, he added.