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Jamaica Energy Policy- Green Paper 2006-2020

Development of Renewable Energy Resources

The price of fossil fuel, a traded and exhaustible commodity, is highly volatile and responds sensitively to factors other than supply and demand balance. On the other hand, the cost of harnessing energy from renewable sources is influenced largely by the initial high capital investments as well as uncertainties with respect to constancy in availability.
As price of fossil fuels increases and, with significant technological advances in harnessing the renewables, energy supply systems that complement fossil fuel consumption with energy from renewable sources become more attractive.

There are significant collateral benefits associated with the use of renewable energy; it can be harnessed and used in remote areas, recurrent expenses are low and they are environmentally clean. Global concerns about climate change induced by the use of fossil fuel and driven by international conventions such as the Kyoto Protocol, have
stimulated interest in bringing renewable energy projects on stream. Importantly, income can be derived from the sale of carbon credits from some projects.

The initiatives to develop the renewable energy sector in Jamaica need to have focus and will benefit from supporting policies.



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