BVIEC’s STEP Initiative Set to Slash Electricity Bills by 50%

Minister of Communication & Works, Kye Rymer, announced the launch of the Solar Technology Energy Program (STEP) at a press conference today, April 18, highlighting its potential to slash electricity costs for residential customers by up to 50%.

The STEP initiative, spearheaded by the BVI Electricity Corporation (BVIEC), aims to alleviate the burden of high electricity bills while advancing the transition to cleaner energy sources.

“Under the STEP initiative, BVIEC will cover the upfront costs of equipment and installation, marking a significant departure from traditional models,” Minister Rymer explained. “Participants will benefit from grid tie systems, harnessing solar energy to offset reliance on imported fuel and reduce overall electricity expenses.”

Minister Rymer emphasised the critical importance of sustainable energy adoption, particularly in the face of global challenges and the imperative to combat climate change.

“National outcome number nine of the National Sustainable Development Plan speaks to the adoption of sustainable energy, which would lower our reliance on imported fuel and introduce more renewable types of energy,” stated Minister Rymer, underlining the government’s commitment to fostering cleaner and more affordable energy solutions for the territory.

The initiative, Minister Rymer emphasized, is designed to empower residents and enhance the territory’s resilience against external economic shocks. By leveraging duty-free import status and strategic procurement practices, BVIEC aims to procure components at the lowest possible cost, ensuring maximum savings for participants.

“To facilitate widespread adoption, BVIEC will engage certified installers, providing them with invaluable experience in solar technology installation,” Minister Rymer noted. “This not only supports the STEP program but also fosters new business ventures aligned with the territory’s climate change agenda.”

Minister Rymer urged residents to register their interest in the STEP program, emphasising its role in driving economic growth and improving quality of life in the Virgin Islands. With projected payback periods as short as under two years, the initiative promises tangible benefits for both participants and the broader community.

In a tangible example provided by Minister Rymer, a customer with an annual usage of 15,624 kilowatts could expect savings of over $2,700 per year with the implementation of a grid tie system, demonstrating the transformative potential of solar technology in reducing electricity costs.