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RENEWABLE ENERGY IN THE CARIBBEAN

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RENEWABLE ENERGY IN THE CARIBBEAN ( renewable-energy-incaribbean )

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Introduction RENEWABLE ENERGY IN THE CARIBBEAN WHERE WE ARE; WHERE WE SHOULD BE There have been many meetings on the topic of renewable energy in the Caribbean. Indeed, there is a network promoting the use of renewable energy. Yet, not much progress has been made in the use of renewable energy in the Caribbean countries. It has been argued that the issue gets prominence only when the price of oil is high. Since the price of oil has been relatively low during the last 15 years, there has not been much interest in alternative energy sources. While, to some extent the above may be true, it is also true that the providers of energy in the region are monopolies and, in the absence of competition, have not made any effort to reduce their dependence on oil, since they have already made investments in the necessary plant and equipment for oil. Interest in, and concern for, environmental preservation may help to advance the cause of renewable energy use. However, increases in production and utilization of alternative energy sources, namely, natural gas, may create setbacks to a renewable energy programme, since oil producers and large companies may opt to utilize this product more efficiently in their total energy equation. There are already many signs that this is so, as the large oil companies are beginning to show interest in electricity generation. The use of natural gas is less damaging to the environment, but it is not a renewable source of energy. A change from oil to gas will simply be a reorientation of dependency with respect to energy security, and a foreign exchange drain for those countries without reserves of natural gas. Energy, development and the environment The critical role of energy in the development process is recognized by all and need not be stressed here. The level of energy consumption is widely used as an indicator of economic activity. Recently, though, two other factors have come into play within the energy equation. Firstly, the damage to the environment caused by the continued use of oil and secondly, the question of national security, although this is not given importance by developing countries, especially the very small and vulnerable States. The effects of the by-products of oil-generated electricity on the environment have been well documented. A number of developing countries, however, contend that the degree of environmental degradation through their continued use of oil is insignificant. This may be construed as an excuse for inaction, since it is the cumulative effect that is important. With respect to the issue of security, this is a two-edged sword. While currently the price of oil is low, oil continues to be a finite commodity and, given that a small number of countries control the vast resources, it is inevitable that the price will increase either through demand and supply mechanisms or as a result of action taken by the suppliers to secure their resources. Additionally, for small States lacking the power to protect themselves, an embargo is all that is needed to bring these States to compliance.

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