To avoid large ecological and economic costs for photovoltaic plants, floating photovoltaics (FPVs) are considered on inland waterbodies in The Bahamas. Their potential to reduce carbon dioxide equivalent (CO₂ e) emissions are investigated as national greenhouse gas (GHG) emissions are due largely to fossil fuel-fed thermal power plants. Using publicly available carbon emissions, 2022 census, and energy use per capita data alongside Global Solar Atlas-based FPV simulations, results illustrated that FPV arrays on 30% of the area of selected waterbodies on Grand Bahama, Eleuthera, Long Island, Cat Island, San Salvador, Crooked Island and Acklins, and Rum Cay lead to negative total CO₂ e emissions while the islands of Abaco, Andros, Exuma and New Providence remain positive. Ideally, if FPVs are used rather than thermoelectric plants, over 93% of CO₂ e emissions could be avoided, thereby reducing The Bahamas’ already minute contribution to global emissions. When FPVs are incorporated into energy generation capacity, economic activity may continue for CO₂ e negative islands that are largely decoupled from CO₂ e emissions. Additional strategies are required to achieve this for CO₂ e positive islands. It is hypothesized that FPVs may allow for economic growth without corresponding GHG emission increases.