Since the beginning of time, humans have used basic solar systems like sunbathing and drying clothes in the sunlight. Today, people often use solar water heaters and solar ovens, which are also simple solar devices. Over the past ten years, the worldwide solar photovoltaic industry has expanded quickly by 50% (Bethel et al., 2021). More than 29 Giga Watt of new solar photovoltaic equipment was developed globally in 2011, a 70% increase over 2010 (Bethel et al., 2021). Over 69 Giga Watt of power capacity was added globally, 70% of which were in European nations (Bethel et al., 2021). Nearly 73 Giga Watt of new solar power was built globally in 2017 (Bethel et al., 2021). Solar panels, also known as photovoltaic devices, have been employed to convert solar radiation into electrical power during the past few decades. These technologies are now installed in the hopes that they will satisfy energy requirements and advance technology.
Energy companies are still undergoing structural adjustments, which could improve medium-term expectations for investors and exporters. The nation is upgrading the management of the industry and has formed an independent power regulator with legislative powers. A significant U.S. energy business was chosen to complete the project after the national operator, Bahamas Power and Light (BPL), conducted a tender for 150 MW of additional capacity utilizing liquefied gas (Bethel et al., 2021). The 29 electricity-producing facilities dispersed around the nation will need to be upgraded and replaced, among other things, in the medium future (International Trade Administration, 2020). Most plants utilize slower-speed reciprocating engines from previous models and range in capacity from 0.2 to 50 MW (International Trade Administration, 2020). As a result, with solar panels, it can become easier for companies in the Bahamas to operate without having to use tenders.
High energy prices and their unpredictability severely hamper effective manufacturing and economic expansion in The Bahamas. Access to low carbon emission energy must be prioritized nationally to support inclusive and sustainable growth and other business activities. This is especially necessary as continued reliance on crude oil and fossil fuels is not a sustainable long-term approach due to market uncertainty globally, high costs of logistics along with CO2 emissions, and global warming it causes (Tariq et al., 2021). In this sense, it is vital to incorporate the project Green Bahamas Energy.
Networks using renewable power will provide a possibility to lower the price of producing power and can entice support from foreign development agencies to further lower these expenses. The real-life scenario of incorporating renewable energy projects took place between 2012 and 2016 when the International Development Bank and the International Bank for Reconstruction and Development contributed to power development assistance for countries in the Caribbean (Bethel et al., 2021). As an illustration, clean power was chosen as the best option to boost energy independence in Cape Verde, even if there can be trade-offs between the advantages of risk reduction and the advantages of reducing poverty of capital invested in renewable technologies.
The main methods for generating energy are photovoltaics, which transforms direct sunlight into power, concentrating solar power, which utilizes concentrated solar electricity to develop large-scale electric windmills, and solar cooling and heating mechanisms, which fully exploit concentrated solar power to heat or cool water and oxygen. The chosen energy generating system for Green Bahamas Projects and the solar parks will be photovoltaics. As a result, the necessary components will be solar panels that generally consist of glass and semiconductors.
As for the end-consumer of the solar parks, these will involve agricultural and tourist sectors that provide the most significance to the Bahamas economy. The Bahamian economy is mainly based on tourism, which accounts for around 50% of the overall Gross Domestic Product (International Trade Administration, 2021). Another sector, accounting for between 15 and 20% of output, is the financial industry (International Trade Administration, 2021). Other relatively small sectors include agriculture, wholesale commerce, fisheries, and manufacturing.
When it comes to the tourism industry, energy is frequently used in tourist and recreation enterprises, such as hotels, recreation areas, gyms, and sports arenas. Energy-intensive daytime uses, including illumination, pools, restaurants, and tourist destinations are ideal candidates for renewable energy solutions like solar panels (Ásványi et al., 2017). Solar panels are the most preferred sustainable alternative for companies in the hotel, tourist, and leisure industries (Ásványi et al., 2017). Commercial solar panels of the solar part in the Green Bahamas Project will provide a way to drastically decrease business expenses, predict long-term energy expenditures, and shield local tourism companies from future energy price hikes due to the high daytime energy demand.
Lastly, technology in agricultural fields is advancing quickly to help farmers and provide advances to the farming industry. However, the quick expansion of agricultural farming that is dependent on the technology used a significant amount of energy sources. Energy usage also raises the price of producing agricultural goods. Cheaper, more accessible, and plentiful power sources are needed to solve these energy and financial problems (Torshizi and Mighani, 2017). Fortunately, the sun is a vast energy source with enough renewable power on it, which can endure for the duration of the planet.
Hence, considering that the Bahamas are a place with plentiful sunlight, there are many possibilities to use solar parks to create personal energy sources. The Bahamas currently depend on the U.S. for energy sources, such as electricity. With the help of the Green Bahamas Project, it will be profitable to utilize photovoltaic systems to retrieve electricity. The end-consumers will be the companies vital to the local economy, including the agriculture and tourism industries. With the help of solar panel parks, the companies will reduce their expenses significantly while bringing more revenue.
References
Ásványi, K., Juhász-Dóra, K., Jászberényi, M., & Michalkó, G. (2017). Literature review of renewable energy in the tourism industry. Journal of Environmental Management & Tourism, 8(2), 476.
International Trade Administration. (2020). Bahamas energy. Web.
International Trade Administration. (2021). Bahamas market overview. Web.
Bethel, B. J., Buravleva, Y., & Tang, D. (2021). Blue economy and blue activities: Opportunities, challenges, and recommendations for The Bahamas. Water, 13(10), 1399.
Tariq, G. H., Ashraf, M., & Hasnain, U. S. (2021). Solar technology in agriculture. Technology in Agriculture, 387.
Torshizi, M. V., & Mighani, A. H. (2017). The application of solar energy in agricultural systems. Journal of Renewable Energy and Sustainable Development, 3(2), 234-240.