The Caribbean’s Role in Creating a Clean Energy Future

by Jyasi Murray

At 2024’s United Nations Climate Change Conference (COP 29), agreements were made amongst world leaders of various developed nations to contribute amounts of up to 1.3 trillion dollars per year in climate financing by 2035. Developing nations however, particularly small island developing states, have a great part to play in the global effort to transition from fossil fuels as the world’s main energy source, to more environmentally friendly and renewable forms of energy generation, such as hydropower, geothermal, solar, and wind.

Developing nations have greater pressure to lessen their fossil fuel consumption, as they require abundant and cost-effective energy resources to fuel their rapidly growing and advancing economies. As of today, clean energy generation and storage technologies have not advanced to the point where they are economically viable for many developing, and even many developed nations to solely rely on. However, more developed nations, such as the USA, Germany, and Norway, have adequate monetary and human resources to implement clean energy technology within their borders on a relatively large scale. For many developing nations, adequate educated technical and scientific professionals, and financial resources, pose as significant barriers to developing proper clean energy infrastructure. It should also be noted that clean energy infrastructure is relatively costly. With many developing nations already in economic distress, leaders of such nations may deem the economic opportunity costs of clean energy investment too great, and will continue to rely heavily on fossil fuels, as more developed nations continue making progress in ensuring that their energy needs are supplied primarily, if not completely, from clean energy sources.

The Caribbean region stands as one of the most vulnerable territories to the adverse effects of global warming and climate change. From increased frequency of destructive weather events, to rising sea levels, small island nations have great incentives to contribute to the world’s transition from fossil fuels. Nations such as Barbados have implemented initiatives to become carbon-neutral by 2030, through policies such as their Public Sector Smart Energy Programme (PSSEP), where government buildings nationwide are being refitted with solar panelling and energy efficient lighting, and their continued investment in electric vehicle infrastructure. St. Vincent and the Grenadines has also made great strides towards a clean energy future. Having significant volcanic activity, the nation has been investing greatly in the development of geothermal energy generating infrastructure at the La Soufrière volcano on the island.

An ambitious project that can be undertaken within the region is the development and construction of an interconnected regional energy grid. The successful implementation of such a project can lead to the sharing of energy resources throughout the region, leading to a more resilient Caribbean energy supply, and helps to fasten the rate at which nations within the region transition to having their energy mix be composed primarily of renewable energy sources. For example, if a participating island generates a significant excess of clean energy, they can mitigate problems regarding energy surplus management by sharing excess energy resources with the interconnected electricity grid. This would help islands that are heavily dependent on fossil fuels to increase the amount of renewable energy sources in their energy mix, while providing a benefit to their Caribbean neighbour islands through taking the load of excess energy off them. It should be noted that such a project requires significant financial investment and technical expertise. However, the idea of developing an interconnected Caribbean energy grid is not new, and has been an ongoing discussion amongst energy ministers, world leaders, and researchers, for many years.

This period of increased interest in developing clean energy infrastructure within the region, provides a great opportunity for Caribbean nations to collaborate and help fortify the region’s overall energy supply. This will lead to a more resilient Caribbean economy, and a brighter future for the region, and by extension, the world.

Jyasi Murray is a national of Trinidad and Tobago who is deeply interested in better understanding the universe we find ourselves in, through studying a variety of topics, from physics and biology, to art and psychology. He has ambitions of starting an economics, finance, and business journalism media company, as he believes that the right information in the right hands can change the world for the better. Furthermore, Jyasi is currently reading for a BSc degree in Banking and Finance at The University of the West Indies, St. Augustine, Trinidad.