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Business is booming in alternative energy

Alternative energy has burst onto the scene in a big way over the past couple of years with a proliferation of new businesses focused on reducing our carbon footprint and cutting costs.

Energy conservation has also been at the forefront of people's minds as homeowners and businesses look to be more efficient in the use of their power at the same time as doing their bit for the environment.

Today, in a two-page feature (pages 31 and 32) The Royal Gazette looks in detail at the application of such technologies on the Island, ranging from the use of abundant solar energy through panels installed on roof tops to the potential adoption of wind farms.

Some companies offer the complete suite of products and services while others specialise in custom-made solutions.

But in an increasingly competitive market place each one has been carving its own niche aided by Government's introduction of rebates for homeowners interested in installing solar water heater and concessions of up to $5,000 for solar photovoltaic systems, announced last year.

The Department of Energy's first public opinion survey released last month revealed that 80 percent of Bermudians questioned believed in a public duty to cut energy use in order to avoid the expansion of Belco, while more than half agreed with offshore wind turbines being built off Bermuda's coast and 39 percent were in favour of residential turbines despite concerns over noise and space.

A recent Belco estimate projected that the Island may rely on renewable energy for a fifth of its electricity needs by 2020 and with the rising price in oil — up to a five-month high of $84.09 for futures and $83.68 a barrel for crude oil for November delivery yesterday — the trend has been for a move away from traditional energy sources to renewable forms which will be more sustainable in the future.