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2010, p. 13).21 The transport sector is the biggest consumer of energy, accounting for more than 66% of total energy consumption; the domestic and commercial sectors account for 30% consumption from electricity generation. The rest of the energy matrix consists of kerosene and LPG consumption for residential cooking and some industrial activities. 3.7.16 Energy Sector Regulatory Framework Analysis The energy sector is heavily dependent on fossil fuels; however, renewable energy has great potential in SVG. There is potential for wind, solar, and hydropower. Preliminary studies have been conducted (CREDP/GIZ) to ascertain hydropower potential and identify wind sites for development of wind parks, but very little RE has been exploited. Further, current law discourages both IPPs and self-generation, and fails to promote adoption of solar water heating. Additionally, SVG has approved a national energy policy and an energy action plan. The nation is poised to improve its energy situation dramatically if it can act on these policies. 3.7.17 Legal and Regulatory Framework In terms of the legal and regulatory framework, the Electricity Supply Act (1973) is the guiding instrument. It grants VINCLEC exclusive rights to generate, transmit, distribute, and sell electricity in St. Vincent for a period of 60 years (Section 3). This license expires in 2033. VINCLEC, with the minister’s approval, also may grant sub-licenses to generate, transmit, distribute, and sell under certain terms and conditions and within a specified area (Section 4). This provision largely benefits inhabitants of the many islands in the Grenadines. Further, self-generation is permitted for one’s own consumption and use under Section 5 of the ESA. All plant, equipment, and machinery imported by VINLEC for the purpose of conducting its business is exempt from customs and all other import duties (Section 12) and stamp duties (Section 32). Moreover, VINCLEC has the right to harness water power—whether on Crown or private land—without a requirement to pay. Currently, there is no clear regulator to exercise oversight over VINCLEC or the energy sector in general. Although there is not much information on the use of tax rebates and other such incentives for RETs, the following are some examples. • Tax rebate to solar collectors, solar electricity-generating equipment (PV panels, converters, batteries), and other renewable-energy technologies equipment on a case-by-case basis. • Case-by-case tax exemptions are given for PV panels, batteries, and inverters. There has been a very slow diffusion of PV on the islands. Note also that an excise tax of 60% and a 15 % value added tax was introduced in May 2007 for incandescent light bulbs and only the 15% VAT was applicable for compact fluorescent lights. In June 2008, the excise tax was increased from 60% to 100% on incandescent light bulbs and the VAT remains at 15%; CFLs are completely exempted from both excise tax and VAT. Unfortunately, there is not sufficient data on the amount and frequency of the importing of light bulbs. The revenue generated by this tax also is unknown, as is where this money is invested. This highlights the critical need to establish proper data collection and monitoring systems to allow the government to evaluate the effectiveness of 21 These figures appear inconsistent as compared to other sources. In 2009, the national energy policy indicated that the energy mix was 96% petroleum based and 3% hydropower. One possible explanation could be varying precipitation levels throughout the year, noting especially the impact of the dry season and sometimes drought. However, this only makes the case for proper and accurate data collection. 96PDF Image | Energy Policy and Analysis Caribbean
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