By Breaking Belize News Staff: Prime Minister John Briceño today introduced legislation that would provide qualifying investors in solar energy generation and battery storage with tax and duty exemptions lasting 15 years after their projects begin commercial operations.
The Domestic Energy Generation and Storage Incentives Bill, 2026, is intended to encourage investment in utility-scale solar photovoltaic power plants and battery energy storage systems to reduce electricity costs, improve reliability and strengthen Belize’s energy security.
Speaking in the House of Representatives, Briceño explained that similar incentives have previously been granted to individual energy producers through separate legislation. The new bill would establish a standardized framework allowing qualifying companies to access those benefits without requiring separate legislation for each project.
Under the proposed legislation, eligible producers must be companies incorporated and in good standing in Belize and must have power purchase agreements with Belize Electricity Limited (BEL).
Qualifying projects would receive exemptions beginning during development or construction and continuing for 15 years from the start of commercial operations. Certain project-related financing transactions would also qualify for relief.
The Prime Minister said the legislation would eliminate the need for separate parliamentary approval of incentives for individual projects while reducing political discretion in determining eligibility.
Briceño also revealed that BEL is currently spending approximately $800,000 monthly to rent diesel generators, excluding the additional cost of fuel.
He explained that interruptions in electricity supplies from Mexico have forced BEL to depend on expensive alternative generation, increasing the financial pressure on the utility.
The Prime Minister said expanding domestic solar generation and battery storage would allow BEL to purchase more electricity locally, reduce dependence on Mexico and avoid expensive electricity purchases during periods of high demand.
He acknowledged that granting tax exemptions would reduce government revenue but argued that lowering investment costs could help developers offer electricity to BEL at more affordable prices.
Briceño also credited recent discussions with Mexican authorities, including President Claudia Sheinbaum’s administration, for helping Belize secure continued electricity supplies from Mexico.
However, he emphasized that Belize must develop greater domestic generation capacity to protect itself against future supply interruptions.
The bill was referred to the Finance and Economic Development Committee for examination, consideration and report.
The post Government introduces bill offering 15 years of tax exemptions for solar energy and battery storage investors appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Breaking Belize News Staff: Prime Minister John Briceño today introduced legislation that would provide qualifying investors in solar energy generation and battery storage with tax and duty exemptions lasting 15 years after their projects begin commercial operations. The Domestic Energy Generation and Storage Incentives Bill, 2026, is intended to encourage investment in utility-scale solar
The post Government introduces bill offering 15 years of tax exemptions for solar energy and battery storage investors appeared first on Belize News and Opinion on www.breakingbelizenews.com.