Highlights
Caribbean small island developing states (SIDS) rely heavily on imported fossil fuels, leaving them vulnerable to unpredictable shifts in global fuel prices and supply disruptions. The region possesses abundant renewable energy resources including solar, wind, hydro, tidal and geothermal. However, the transition to renewable energy has been slow. This policy brief proposes solutions to aid Caribbean SIDS in accelerating their transition to renewable energy.
Recommendations:
Enhance knowledge and understanding of renewable energy through public education campaigns.
Issue thematic corporate bonds to bridge the financing gap for transitioning to renewable energy.
Establish a stable regulatory framework for the disposal or recycling of solar panels to increase confidence among investors and consumers.
