The Renewable Energy Industry in CARIFORUM Countries

INTRODUCTION | LITERATURE REVIEW

national RE Industries in any specific way.

oriented economies like Belize, Grenada, St. Lucia and Barbados, petroleum imports represented between 13% and 30% of export earnings.

The CEP was subsequently supported by the Caribbean Sustainable Energy Roadmap and Strategy (C-SERMS) after the recognition that “a regional sustainable energy roadmap was required to guide, encourage and expedite the increased use of renewable energy and energy efficiency” 1 . It was developed under the CARICOM Energy Programme in collaboration with CARICOM Member States and other partners to assist with sustainable energy planning, management and implementation frameworks, as well as a communication tool (CARICOM, 2015). It focused on building on existing efforts in the region and providing Member States with a coherent strategy for transitioning to sustainable energy. The document recommended regional sustainable energy targets for renewable energy and energy efficiency in the short (20% RE by 2017), medium (28%RE by 2022), and long (47% RE by 2027) terms. A 33% reduction in energy intensity was proposed by 2027 based on observed global uptake of energy efficiency measures. The document reported that there was broad consensus that a regional energy approach was needed to achieve the set C-SERMS targets, since this would encourage greater commitment from national governments. As dictated by the CEP, the Energy Roadmap focused on improving energy efficiency and increasing the use of renewable energy by paying closer attention to planning and communicating priorities and policy goals, and for identifying strategies to overcome the various technical and non-technical barriers that limit RE and EE deployment. Though very useful, it was not intended to address specific issues within the national RE industries even though there would be clear support and benefit to all involved in RE. Equally of importance is the report produced by the Task Force on US Caribbean and Central American Energy Security (USA, 2016). The

In order to address the concerns of the Member States, the CEP set out some key objectives including: Accelerated deployment of renewable and clean sources of energy supplies towards increased energy supply diversification and affordability. Increased energy efficiency and conservation in production, transformation and distribution of viable energy sources. Strengthening and enhancement of the human and institutional capacities in the regional energy sectors. A coordinated approach to exploring and establishing an institutional framework for leveraging financing mechanisms for the development of viable energy resources Established regional and national targets for emissions reduction with corresponding mitigation actions Strengthened research, development and innovation efforts in the energy sector especially in areas of clean and renewable energy sources and technologies The document did not adequately address the concerns of Energy Pricing in CARICOM States and this led to the commissioning of an additional study to do that instead of further delaying the CEP adoption. The key issue addressed was pricing with respect to non-discrimination and national treatment under the Revised Treaty of Chaguaramas. As critical as the policy and these subsequent studies were to the national approaches of the Member States, they did not extend their reach into the makeup of the all sectors. Increased investment in

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1 | CARICOM Energy Policy, Pg. 14

The Renewable Energy Industry in CARIFORUM Countries

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