Beautiful Virgin Islands

Monday, Jul 14, 2025

Going green could save VI nearly $80M in 5 years –Premier

Going green could save VI nearly $80M in 5 years –Premier

Premier and Minister of Finance Hon. Andrew A. Fahie (R1) said if 60 per cent of residents of the Virgin Islands decided to take advantage of the two-year duty-free and transition into going green, making use of renewable energy sources like solar and wind-powered energy, the territory could save $15 million per year or close to $80 million in the next five years on fossil fuel.

“Many person may be doing renovations and repairs to their properties following the destruction caused by Hurricanes Irma and Maria. This is an opportunity to rebuild green and clean, and with modern technology – at significant savings to your pocket. I urge all our citizens to take advantage of the opportunity to save money by making full use of the two-year duty-free window with this Go Green initiative,” he said during a press conference on Friday, August 27, 2021.

He said transitioning to green, renewable energy is important for our environment and pointed to the global community target of achieving net-zero carbon by 2035.

“We in the Virgin Islands will not be exempted from this goal,” he remarked, stating that the recent amendment to the Customs Management and Duties Act, being referred to as the BVI Going Green Initiative, will go into force soon.

The Virgin Islands has been encouraged to build and renovate with green energy in mind.


Going Green can save VI $78.5M in 5 years


“Switching from fossil fuel can save you, the people of the Virgin Islands, US$78.5 million over a five-year period initially, and more money thereafter. The average consumption of fossil fuel in the Virgin Islands is presently one million gallons per month. The BVI consumes approximately $2.18 million in fossil fuel per month at base cost. That is $26.16 million per year, and $130.8 million over 5 years, that has been leaving our shores - and continues to leave our shores - to enrich other countries and other economies,” he said.

He expressed that by reducing the VI’s fossil fuel consumption by 60 per cent, “we can reduce this leakage by approximately $15.7 million per year, based on the current usage and prices. This is how we arrive at saying that the taxpayers of the Virgin Islands can save $78.5 million over the next 5 years. This potential savings can be retained and re-circulated throughout the Virgin Islands’ economy, and improve the quality of life and the prospects for our people.”

He said when one is generating their own electricity, they have the ability to earn or to save money – lowering the cost of living.

Premier and Minister of Finance Hon. Andrew A. Fahie (R1) said if 60 per cent of residents of the Virgin Islands decided to take advantage of the two-year duty-free and transition into going green, making use of renewable energy sources like solar and wind-powered energy, the territory could save $15 million per year or close to $80 million in the next five years on fossil fuel.


High-level goals


Premier Fahie said the government has established “high-level goals’ for the VI.

They are to generate 100% of the Territory’s electrical power from renewable sources by 2035; to utilise 100% renewable energy for all uses in all sectors, including transportation and cooking, by 2050 and to be 60% Green by the year 2030 or before.

“I want to remind you that the BVI Electricity Corporation has been setting up the net-billing system whereby if you generate your own electricity, you can sell any surplus you have to the national grid and earn yourself money,” he surmised.

He said another benefit is in the event of a natural disaster, the territory can have multiple sources of power until the system is restored.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Air India Pilot’s Mental Health Records Under Scrutiny
Google Secures Windsurf AI Coding Team in $2.4 Billion Licence Deal
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
South African Police Minister Suspended Amid Organised Crime Allegations
Nvidia CEO Claims Chinese Military Reluctance to Use US AI Technology
Hong Kong Advances Digital Asset Strategy to Address Economic Challenges
Australia Rules Out Pre‑commitment of Troops, Reinforces Defence Posture Amid US‑China Tensions
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
U.S. Resumes Deportations to Third Countries After Supreme Court Ruling
Excavation Begins at Site of Mass Grave for Children at Former Irish Institution
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Defends Attorney General Pam Bondi Amid Epstein Memo Backlash
Renault Shares Drop as CEO Luca de Meo Announces Departure Amid Reports of Move to Kering
Senior Aides for King Charles and Prince Harry Hold Secret Peace Summit
Anti‑Semitism ‘Normalised’ in Middle‑Class Britain, Says Commission Co‑Chair
King Charles Meets David Beckham at Chelsea Flower Show
If the Department is Really About Justice: Ghislaine Maxwell Should Be Freed Now
NYC Candidate Zohran Mamdani’s ‘Antifada’ Remarks Spark National Debate on Political Language and Economic Policy
President Trump Visits Flood-Ravaged Texas, Praises Community Strength and First Responders
From Mystery to Meltdown, Crisis Within the Trump Administration: Epstein Files Ignite A Deepening Rift at the Highest Levels of Government Reveals Chaos, Leaks, and Growing MAGA Backlash
Trump Slams Putin Over War Death Toll, Teases Major Russia Announcement
Reparations argument crushed
Rainmaker CEO Says Cloud Seeding Paused Before Deadly Texas Floods
A 92-year-old woman, who felt she doesn't belong in a nursing home, escaped the death-camp by climbing a gate nearly 8 ft tall
French Journalist Acquitted in Controversial Case Involving Brigitte Macron
Elon Musk’s xAI Targets $200 Billion Valuation in New Fundraising Round
Kraft Heinz Considers Splitting Off Grocery Division Amid Strategic Review
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
EU Proposes New Tax on Large Companies to Boost Budget
Trump Imposes 35% Tariffs on Canadian Imports Amid Trade Tensions
Junior Doctors in the UK Prepare for Five-Day Strike Over Pay Disputes
US Opens First Rare Earth Mine in Over 70 Years in Wyoming
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
Bitcoin Reaches New Milestone of $116,000
Biden’s Doctor Pleads the Fifth to Avoid Self-Incrimination on President’s Medical Fitness
Grok Chatbot Faces International Backlash for Antisemitic Content
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
Azerbaijan and Armenia are on the brink of a historic peace deal.
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Weinstein Victim’s Lawyer Says MeToo Movement Still Strong
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
Football Mourns as Diogo Jota and Brother André Silva Laid to Rest in Portugal
×