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Going Green: The Growth of Solar Energy in The Bahamas

 

As a country with an abundance of sunshine, The Bahamas is slowly but surely taking advantage of all the benefits that come along with solar energy in terms of improving the country and livelihood of its citizens. In fact, The Bahamas has about 340 sunny days a year! As people begin to look for more sustainable ways to reduce energy consumption and save on costs, more individuals and companies in The Bahamas are opening their eyes to all the possibilities solar energy can bring. 

 

Cutting Down the Electric Bill 

The residential real estate industry has seen an uptick in solar-powered homes throughout the years, with some homes even going completely solar, like this home on Paradise Island which was recently sold by Bahamas Realty agent, Andrea Brownrigg which is completely powered by its own solar grid.

Luxury Home in The Bahamas with Solar Panels | Bahamas Realty

 

Homeowners have recognized the positive impact solar energy can have on their cost savings in the long run. For many homes, the electricity bill makes up a large portion of the expenses so when the energy costs are cut, money will be saved. In addition, the rising energy costs make the transition to solar energy a no brainer for so many homeowners. Even a smaller solar panel for hot water can produce significant savings for the average household. 
 

Commercial Properties Benefit from Financial Savings and More 

Commercial companies like NAI Bahamas Realty Commercial have started making the transition to more sustainable energy solutions by changing out light bulbs to LED, replacing HVAC units with energy-efficient ones, and having programmable thermostats in offices. Although these changes may seem small compared to installing full-blown solar panels, these efforts have led to 25% average savings in energy across the buildings that NAI Bahamas Realty Commercial manages. 

“Many office buildings in The Bahamas are older, and most are multi-tenant buildings. Achieving energy efficiency in these spaces has its challenges. We work with landlords and tenants to help them make practical changes to reduce energy waste which benefit both parties in the long run,” said Donald Martinborough, CEO of Bahamas Realty and NAI Bahamas Realty Commercial 

Not only are there direct financial benefits of a green, efficient space, but embracing green energy ideals can have positive impacts on a company’s brand and community relations. The added benefit? A strong relationship between tenant and landlord and a more attractive commercial space for future tenants. 

“When renovating or building out a new space, tenants and landlords have a great opportunity to collaborate and go green. Relatively small changes in the design and build-out of the space can have a big impact on its energy efficiency and sustainability,” said Martinborough. 

Bayside Bahamas Commercial Building | Bahamas Realty


The Bahamas Goes Green 

The solarized project forged between the government of The Bahamas and the United Arab Emirates (UAE) is an agreement signed in 2017 to “accelerate sustainable development” in The Bahamas. This $4 million dollar aims to save The Bahamas $350 thousand dollars and annually offset over 800 tons of carbon emissions by displacing thousands of litres of diesel fuel with a grid-tied solar system. 

Similar to the agreement signed in 2017, Bahamas Power & Light (BPL) launched the Family Island Solar Program with support from the Rocky Mountain Institute (RMI) and Carbon War Room’s Islands Energy Program. This program proposes to develop “solar-fueled power systems” on the Family Islands of Andros, Bimini, Eleuthera, and Inagua with hopes of meeting 30% of the electricity by the year 2030. 
 

What changes are you making to move toward a greener, more energy-efficient environment? 

Contact us to learn more about our commercial property management solutions, and how we can offer guidance in a green build-out. 

NAI Bahamas Realty Commercial


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Caves Corporate Center Now Fully Leased by NAI Bahamas Realty Commercial

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NAI Bahamas Realty Commercial, a leading full-service independent commercial real estate firm, announced today that the Cave’s Corporate Center West is now 100% leased. The NAI Bahamas Realty Commercial exclusive listing is a newly constructed Class A office building located on West Bay Street and Blake Road. 

Caves Corporate Center - Newly built corporate office building in Nassau with afternoon sun

 

The Caves Corporate Center West has been highly sought after since its ground breaking in 2019,” said NAI Bahamas Realty Commercial’s CEO, Donald Martinborough. “We are thrilled to see the project near completion and to have represented the developers, Mosko United Construction Company, in the successful negotiation of the lease of the final remaining spaces.” 
 

The Caves Corporate Center West is comprised of 25,000 square feet of Class A, Build-to-Suit office space. The three-story Class Abuilding is designed to offer spectacular ocean views and is ideally situated within minutes to the international airport and the Bahamar Resort. 
 

NAI Bahamas Realty Commercial previously announced the lease of 18,000 sq. ft. of the building to anchor tenant, Ernst & Young. The remaining 7,000 sq ft. will be occupied by Trident Trust Group, also represented by NAI Bahamas Realty Commercial, and Banco Santander Intl. 
 

NAI Bahamas Realty Commercial specializes in the sale, lease, and management of Build-to-Suit properties. These buildings represent the newest and highest quality buildings in the Bahamas commercial market. They are well located, feature top of the line construction, and possess high-quality building infrastructure. As a result of this, they attract the highest quality tenants. 
 

“We’re seeing a greater demand in this type of commercial development as it becomes the industry standard in international markets,” said Martinborough. “Looking ahead, we anticipate the demand for professionally managed properties with Build-to-Suit options increasing, as tenants are attracted to spaces designed and tailored specifically to their needs.”

 

About NAI Bahamas Realty Commercial.

 

NAI Bahamas Realty Commercial, an exclusive member of NAI Global, is a corporate real estate services company dedicated to offering the finest commercial real estate and property management services in The Bahamas. It is the commercial division of Bahamas Realty Limited, a full-service real estate company established in 1949 offering a full range of services for both residential and commercial properties.

To learn more about our Commercial Real Estate Services Click Here

NAI Bahamas Realty Commercial