THE United Nations has set a global goal to triple renewable energy capacity and double energy efficiency improvements by 2030, and Caribbean stakeholders are concerned that our islands are lagging far behind our immense potential. At the Re-Energise Caribbean: Clean Energy Catalyst Workshops on Friday 14th March, held in Bridgetown, Barbados, participants from across the region met to strategize solutions that can create a more enabling environment for transformative renewable energy innovations.
After a fruitful activity which saw participants design roadmaps for renewable energy project implementation, private sector leaders gathered to sign a Clean Energy Pledge, demonstrating their commitment to actions which will drive the clean energy transition forward for the Caribbean.
The Re-Energise Caribbean Workshops were interactive forums for enlightening dialogue and solution-building featuring a selection of private sector and civil society actors who are making significant strides in energy and environmental work in the region. Participants included representatives from organisations such as the Caribbean Center for Renewable Energy & Energy Efficiency (CCREEE), CARICOM Development Fund, Caribbean Energy Chamber, CARILEC, Caribbean Association of Banks, the IADB, Jamaica’s Office of Utility Regulation, the Barbados National Oil Company, RMI, Youth Irie, CARIRI, Global Green Growth Institute, Climate Tracker, and the University of the West Indies.
The Workshops were led by Climate Analytics Caribbean, Dr. James Fletcher – CARICOM Climate Envoy, and Dr. Diego Acevedo – Eneda Engineering Services and the University of Aruba.
Dr. Fletcher noted that information scarcity is causing citizens to miss out on exceptional opportunities to transform our economies and businesses via renewable energy investment. He highlighted that according to the Caribbean Sustainable Energy Roadmap and Strategy (C-SERMS), CARICOM Governments have signaled their intention to transition away from using fossil fuels.
“Every single island in the Caribbean has renewable energy potential, however comparing our renewable energy penetration against the targets we have set – in almost every instance we are way below target,” said Dr. Fletcher. “Challenges include factors such as monopolized and centralized fossil fuel-based structures, regulatory ambiguity creating an imbalanced playing field, bureaucracy, access to finance for infrastructure, and the need to ensure a just transition. However, there are opportunities. In many islands, the high cost of electricity makes renewable energy not just attractive but necessary if these countries are to be competitive. Greater regulatory certainty will improve the investment environment, as will the development of clear Energy Sector plans and broader energy ecosystem plans, as well as catalytic and blended finance to reduce the cost of capital.
Once our people are empowered with information on these opportunities, they can lobby their governments, regulators, and banking sector to make the path a lot easier for them.
This is a win-win situation, there are so many opportunities there.”
Dr. Fletcher also called for Caribbean countries to:
– explore the option for a Regional Energy Infrastructure Fund for Aggregated Renewable Energy Projects; support a refocused CCREEE to guide the transition,
– implement effective data and monitoring systems at the national and regional levels,
– aggregate demand and pool procurement,
– make greater investment in training and engagement of youth,
– engage communities in planning and implementing Renewable Energy projects,
– and ramp up the development of large-scale project proposals.
Workshop participants also benefitted from presentations from Ms. Skeeta Carasco, Manager, Climate Finance Action Network at RMI, Ms. Marga Buys, Consultant at Matribu BV, and Mr. Giovanni Buckle, Project Manager at CCREEE.
“We are pleased by the participant feedback that these Workshops have inspired them to seek inclusive action and promote ownership by key regional stakeholders for a clean energy transition in the Caribbean,” said Kristin Qui, Climate Diplomacy Advisor, Climate Analytics Caribbean.
“As Parties to the Paris Agreement, we are all committed to the goal of limiting the global average temperature increase to 1.5°C above pre-industrial levels, recognizing that this is imperative to avoid the very worst risks and impacts of climate change.” noted Rueanna Haynes, Director, Climate Analytics Caribbean. “This requires deep, rapid, and sustained reductions in global greenhouse gas emissions. Pursuing a renewable energy transition is paramount to these efforts.”