The Renewable Energy Industry in CARIFORUM Countries

COUNTRY INDICATOR ANALYSIS

COUNTRY POTENTIAL MW CONVERTED

FA1 COST OF TRANSITION TO 100% RE ($M)

ANNUAL* POTENTIAL RE MARKET ($M)

FA1A TOTAL ANNUAL MARKET ($M)

NATIONAL GDP ($M)

% OF GDP

FA2 4-YEAR COST ($M)

FA2B TOTAL ANNUAL MARKET ($M)

Antigua & Barbuda

70.50

$493.50

$49.35

$54.29 $1,611.00 3.7 $59.61 $18.63

Bahamas

534.80

$3,743.60 $374.36 $411.80 $12,425.00 5.8 $720.65 $225.20

Barbados

249.60

$1,747.20 $174.72 $192.19 $5,087.00 9.9 $503.61 $157.38

Belize

70.56

$493.92

$49.39

$54.33 $1,925.00 10.6 $204.05 $63.77

Dominica

20.10

$140.70

$14.07

$15.48 $551.00 10.6 $58.41 $18.25

Dominican Republic

2,928.00 $20,496.00 $2,049.60 $2,254.56 $88,940.00 10 $8,894.00 $2,779.38

Grenada

53.07

$371.49

$37.15

$40.86 $1,185.00 9.7 $114.95 $35.92

Guyana

346.60

$2,426.20 $2

$266.88 $3,879.00 8.4 $325.84 $101.82

Haiti

251.25

$1,758.75 $175.88 $193.46 $9,658.00 10 $965.80 $301.81

Jamaica

1,132.00 $7,924.00 $792.40 $871.64 $15,461.00 6.2 $958.58 $299.56

St. Kitts and Nevis

84.40

$590.80

$59.08

$64.99 $980.00 10.3 $100.94 $31.54

Saint Lucia

88.00

$616.00

$61.60

$67.76 $1,922.00 4.9 $94.18 $29.43

St. Vincent and the Grenadines 42.24

$295.68

$29.57

$32.52 $811.00 12 $97.32 $30.41

Suriname

309.70

$2,167.90 $216.79 $238.47 $3,591.00 7.5 $269.33 $84.16

Trinidad &

2,018.99 $14,132.93 $1,413.29 $1,554.62 $23,808.00 12 $2,856.96 $892.80

Tobago Total

8,199.81 $57,398.67 $5,739.87 $6,313.85 $171,834.00 8.8 $16,224.21 $5,070.07

Table 4.5 | Annual Potential RE & EE Market

* Normal EE retrofits excluding Solar Water Heating. a - FA1’s calculation includes 10% cost for EE

FA1 and FA2 are two independent Funding Agencies b - FA2’s calculation includes 25% cost for EE

%GDP was estimated for countries with inaccurate or missing data in the FA2 study

The Renewable Energy Industry in CARIFORUM Countries

127