Renewable Energy: A Caribbean Crossroad

The Caribbean Community consists of a total population of just over seventeen million people and fifteen members of state, from Antigua and Bermuda, to Suriname and Trinidad and Tobago, encompassing geographic, cultural and economic diversity. Energy consumption and generation are the two pivotal challenges that have continuously confronted Caribbean nations. All fifteen CARICOM nations rely on the importation of fossil fuels, some more than others, and as such, all are susceptible to the volatile nature associated with oil prices. The cost of domestic retail electricity rates in the Caribbean islands is averaged at USD $0.35/kWh.[1] Once more, the rate of retail electricity price depends heavily on the extent of fossil fuel importation. Collectively, the CARICOM members total roughly USD $4.9 billion for annual fossil fuel import costs.