The Renewable Energy Industry in CARIFORUM Countries

INTRODUCTION | NATIONAL APPROACH TO RE INDUSTRY | CARIBBEAN EXPORT APPROACH TO RE INDUSTRY

1.5.3 | NATIONAL APPROACH TO RE INDUSTRY

At the national level, countries have also set targets in relation to their levels of energy consumption and percentage of clean energy which make up their energy mixes. In their responses and using their Nationally Determined Contributions (NDC), they engage in mitigation measures including RE and EE activities. These actions do support the global agenda for emissions reduction but are based on additional motivations routed in common challenges that face most of these countries; including high and unpredictable cost of fuel, the impact on foreign reserves and energy security. Regional institutions that fully understand and support these efforts include CARICOM, Caribbean Development Bank (CDB) and Caribbean Community Climate Change Centre’s (CCCCC or 5Cs). Caribbean Export’s approach to the RE industry is different to the previous three approaches above. While it enjoys clear synergies with the previous approaches, its focus is primarily on the MSMEs in each country. If their programming is to be focused on the competitiveness of the MSME by making the EE and RE products and services options more accessible to businesses, there must be an understanding of some key indicators in the industry, as presented in section 1.2 above. Since such a study has not been done before, it should provide Caribbean Export with critical decision- making information that can lead to programs to lower MSMEs’ operating costs. While the Global and National approaches must address all categories of energy consumption in order to exert the maximum impact, this may not necessarily be the case with the Caribbean

In this respect countries similarly have targets in relation to RE and EE in electricity generation, transportation and other business and personal activities. In their responses, Governments plan RE and EE projects and programmes which engage the electricity utilities and the wider RE industry. National action plans seek to establish the appropriate legal and regulatory environments and pursue the appropriate investments and technologies required to effect the necessary transformation in the energy sector. These interventions are driven by a national agenda to develop lower cost, indigenous, clean energy, managed by the public and private sectors and may ultimately benefit all sectors directly or indirectly. This also engages the specific attention of the ministries responsible for energy, planning and others.

1.5.4 | CARIBBEAN EXPORT APPROACH TO RE INDUSTRY

GLOBAL APPROACH

NATIONAL APPROACH

CARIBBEAN EXPORT APPROACH

RENEWABLE ENERGY INDUSTRY

MSMEs

Figure 1.1 | Approaches to Renewable Energy Industry Impacts

The Renewable Energy Industry in CARIFORUM Countries

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