Economic analysis to facilitate the establishment of a stable price for electricity from renewable sources. Final report

Hohmeyer, Olav
Global Sustainable Energy Consultants LTD. (GSEC)

2017

333.794/H7194

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The aim of this report was to find the best kind of support policy for renewable energy sources under Barbados’ specific circumstances, to outline the structure of such support policy and to derive some first price points enabling the broad investment in renewable energy supply by as many citizens as possible. Besides this aim the consultant was asked to suggest the most appropriate market structure for Barbados’ power market and to suggest further steps of liberalisation for the power market if necessary. The report shows that multiple objectives need to be addressed by an appropriate policy framework for the stable low cost development of a renewable energy supply for Barbados. By such framework a 100% renewable energy supply based on solar PV, wind energy, biomass, solid waste incineration and a sizeable pump storage hydro plant can be reached by 2035. The best policy framework is a differentiated and dynamic feed-in tariff (FIT) system tailor made to the needs of Barbados, which is developed in the report allowing for a very broad citizen participation in the future generation of electricity in Barbados.

Recursos Energéticos Renovables; Política Energética; Barbados;