CARICOM countries are mostly characterized by a lack of domestic energy resources. Especially the Caribbean island countries lack both hydropower resources and fossil fuel reserves. The countries situated on the mainland such as Panama still have access to domestic hydropower resources. These countries have therefore, so far, depended on imported fossil fuel - mostly oil, for power generation which has ensured that electricity prices are on the higher side. A fairly stable population has ensured that installed power generation capacity has not increased much during the historic period (2006-2016) under study.
Cumulative installed capacity in the CARICOM countries increased from around 24,000 MW in 2006 to just over 33,000 MW in 2016 at a CAGR of nearly 3.5%. The countries situated in the mainland have largely contributed to this capacity as the Caribbean island countries cater to small populations and their individual capacities in most cases range from a few megawatts to several hundred megawatts.
Between 2006 and 2011, the contribution of oil in the total installed capacity has been more than half with non-hydro renewables making up a small part of the total mix. The high dependence of these countries on imported oil has been a major issue of concern for their energy security. Consequently individual governments have encouraged the installation of renewable power generation systems, mostly solar PV, and wind turbines, as these countries have a rich potential of these two resources.
Power generation capacity in the CARICOM countries is expected to increase at a similar rate in the forecast period (2017-2025) as in the historic period. Cumulative installed capacity, estimated to be around 35,000 MW by the end of 2017, is expected to reach almost 48,000 MW in 2025 at a CAGR of nearly 4%.
The report "Power Market in CARICOM and Associated Countries - Installed Capacity, Capacity Mix, Renewable Roadmap, and Future Outlook to 2025", begins with an introduction to the scope and countries covered in the report. 31 countries are covered as part of the report and each country will have a dedicated chapter which covers power sector overview, renewable energy policy, and roadmap. The power sector overview provides details such as historic power installed capacity and generation statistics, current installed capacity mix as well as generation mix, and forecast installed capacity and generation by type of power generating source.
- Power market insights in CARICOM and for thirty one countries namely - Antigua and Barbuda, Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Suriname, Trinidad and Tobago, Anguilla, Bermuda, British Virgin Islands, Cayman Islands, Turks and Caicos Islands, Aruba, Cura?ao, Dominican Republic, Sint Maarten, Panama, Costa Rica, Nicaragua, El Salvador, Honduras, Guatemala, Puerto Rico.
- Study on present power market scenario and electric system.
- Historic (2006-2016) and forecast (2017-2025) data for cumulative installed capacity for total power and by power generating source such as thermal (coal, oil and gas), hydropower, wind, solar, geothermal and biopower.
- Coverage of the key opportunities and challenges related to country’s renewable power market.
- Key renewable power support mechanism
Reasons To Buy
- Facilitate decision-making by providing historical and forecast data in power sector in CARICOM and associated countries
- Identify opportunities and plan strategies
- Identify key factors driving investment opportunities in key countries
- Develop strategies based on latest market and policy developments in the sector
- Position yourself to gain the maximum advantage of the industry’s growth potential
- Identify key partners and business-development avenues
- Respond to your market structure, strategies and prospects