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Renewables to account for up to half of Caricom energy mix by 2027

 

The Caribbean Community (Caricom) set regional targets for the contribution of renewable energy to the power matrix during the special meeting of the Council for Trade and Economic Development (COTED).

 

COTED set the following initial goals for renewable generation: 20% by 2017, 28% by 2022 and 47% by 2027 in the 15 nation community.

 

Renewables are seen as a way to increase energy security, sustainability and affordability, in a region where more than 90% of commercial energy consumption comes from high priced petroleum products, according to official estimates, and where in 2008 the regional energy bill exceeded US$14bn.

 

The goals now form part of the communities’ energy policy under the Caribbean Sustainable Energy Roadmap and Strategy (CSERMS) which focuses on renewable energy, natural gas and energy efficiency, and is set to conclude its first two year phase funded by IDB.

 

German international cooperation agency GIZ and others will help fund CSERMS’s second phase.

 

Source: http://www.bnamericas.com/news/electricpower/renewables-to-account-for-up-to-half-of-caricoms-energy-mix-by-2027



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