Bermuda’s sole energy provider held a town hall meeting to demonstrate what needs to be taken into account to find a model for the island’s ideal fuel source set-up.

Belco hosted its first Energy Equation presentation at the Bermuda Underwater Exploration Institute yesterday.

Jeffrey Steynor, the director of energy transmission and business development, said that Bermuda’s power source had to strike a tough balance between reliability, cost effectiveness and environmental friendliness.

He added that as a result, Belco’s Integrated Resource Plan was “absolutely critical” because all the necessary data could be collected and run through an “objective” computer model.

Dr Steynor said: “That model will go through and look at every model of every day for 20 years into the future and find the solution that balances the triangle, minimises costs, maintains reliability and also hits whatever renewable target we desire.”

Dr Steynor said that the amount of power generated depended on demand, which could change by the hour.

He said that the “peak” of demand determined how expensive energy would be.

Dr Steynor added that, with the Government’s push towards electric vehicles and phasing out gas engines by 2050, the island’s grid would only fall under more stress.

He said: “Belco has to be prepared and ready to match when everyone comes home with electric vehicles.

“If you all go home and charge your cars as fast as possible at 8pm, it is going to hurt the grid.”

Dr Steynor said that an important factor in energy use was maintaining the stability of the island’s power grid.

He explained that renewable energy sources such as solar or wind power could overload the grid during peak hours.

Dr Steynor added that the flipside could be when demand was still high but power sources were unavailable.

He said that batteries and energy storage would be crucial for mitigating this scenario, but added that batteries powerful enough to offset the gap did not exist yet.

Dr Steynor said that adjusting to renewable energy would be difficult because of Bermuda’s unique environment.

He explained that the island’s humid and saline air could corrode isolated wind turbines or wave systems.

Attendees heard that there was not sufficient space to lay out the number of solar panels that would be required to rely on solar as a main energy source.

Further, Dr Steynor said that wave power was not only expensive, but the best spots to harness a current, such as at Flatts Bridge, would not generate enough energy.

He said that, although renewable energy resources ultimately had to be taken on, Belco would also have to time the switch properly.

Dr Steynor explained that such energy sources when still relatively new are expensive and shifting would depend on when cost was comparable to fossil fuels.

He noted that finding the best power sources relied on determining which resources were abundant, what technology was available to collect them and the cost.

He also proposed floating solar panels in some areas of “low ecological value” and reminded attendees that expressions of interest have been invited for the construction of an offshore wind farm.

The next Energy Equation presentation is expected to be held in September.