Bermuda’s Renewable Energy Opportunity: Why Policy Reform, Oil Volatility and Island Benchmarks Support Higher Targets

Core argument

Bermuda’s proposed renewable-energy pathway of 7% by 2030, 35% by 2040 and 50% by 2050 is too conservative. The National Electricity Sector Policy shows that Bermuda remains heavily dependent on fossil-fuel generation, with 141 MW of fossil-fuel capacity, equal to 84% of listed generation capacity, while existing bulk-generation solar is only 6 MW and distributed solar is 14.3 MW. The same document also uses 660,000 MWh as Bermuda’s annual island energy requirement and presents a renewable scenario reaching 59% of total energy from 186 MW of renewable capacity. (NESC)

The case becomes stronger when oil risk is included. BELCO itself stated in March 2026 that after U.S. and Israeli strikes against Iran, oil rose from about $68 per barrel to $95 per barrel, a 40% increase in three weeks. BELCO also confirmed that it relies on heavy fuel oil and diesel to generate electricity. (BELCO)

That means Bermuda’s energy policy has to be adjusted to focus on maxmimizing the sustainability of the island's energy production especially as we have seen the effects of wars, pandemics, recessions etc. on global supply chains if we are truly trying to build a better Bermuda.

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