Join our forum Subscribe to mailing lists
Join a chatroom Join a meeting
Browse the site by category

Renewable Energy in the Caribbean needs Stronger Support From Government

Caribbean states have promised to reduce their dependence on fossil fuels and transition to a more renewable energy economy. Saint Lucia and Aruba has even gone so far as to vowed to transition to 100% renewable energy generation as part of the Ten Island Challenge. Yet these commitments, as important as they are, have not produced regulatory reform to match these lofty promises.

 

The Caribbean Development Bank is working to update legislation to support emerging renewable energy projects across the Caribbean region. The RE market needs policy support from governments if it is to get the funding. 

 

In many countries such as Bermuda and Grenada, there is a monopoly for electricity generation where a single privately-owned company controls the entire vertical electricity market. Out-dated cost benefit analysis hinders renewable energy installations, especially small-scale household solar, which are seen to be more expensive than wholesale diesel-based electricity. This leaves no demand or economic incentive to develop new technologies for these large monopolies.

 

In Barbados, the popular locally designed and manufactured solar water heater was backed government subsidy. There have also been hugely successful wind farms in Jamaica, backed by the Government. However, other projects struggle to get off the ground due to lack of regulatory reform and land leaseholds. In Bermuda, years of negotiations have failed to produce fair payment arrangements between domestic solar PV projects and the Bermuda Electric Light Company (BELCO). 

 

Promising research by Rebekah Shirley and Daniel Kammen, University of Berkeley, demonstrates that there are many scenarios in which renewable energy technologies already provide significant job creation and carbon reduction benefits, and most importantly, are competitive with current electricity costs.

 

This is supported by regional bodies such as the Caribbean Development Bank and the Inter-American Development Bank, but there is still a long way to go to translate into changes in national regulation, local investment opportunities and reduced barriers to grid integration. In particular, the potential for green jobs is strong and could prove to be a powerful incentive for national regulatory reform. It will be interesting to see what develops over the coming years.

 

Resource:  renewableenergycaribbean.com



Category/ies:Barbados News, Grenada News, Jamaica News, News, St Lucia News.
RSS: RSS 2.0 Both comments and pings are currently closed.

Comments are closed.




View My Stats