Payment boost for renewable energy generators
Customers selling excess electricity generated from their renewable energy systems to the Bermuda Electric Light Company, will be paid at a higher rate from today.
The 30.4 per cent increase means customers will now receive 22.65 cents per kilowatt hour they sell to Belco. Previously they received 17.36 cents per kWh.
The announcement was made by the Regulatory Authority of Bermuda.
The feed-in-tariff for Bermuda’s solar PV distributed generators is the predetermined rate that Belco pays to residential or commercial solar distributed generators for the excess electricity they generate and feed into the grid.
In Bermuda, distributed generators are primarily small-scale solar customers with renewable energy systems below 500kw, but may also include wind or other renewables generation sources.
The RA said the feed-in-tariff will be reviewed again before 2022.
For more information, see the FIT decision and order at www.ra.bm
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