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Energy Policy Consultant at the Caribbean Development Bank (CDB), Joseph Williams, believes the Caribbean must move faster towards greater renewable energy and energy efficiency projects.
Delivering the feature address at Green Energy Day at the Energy Conference in Port of Spain, Williams said Caribbean countries are not poor in regard to energy. He said in addition to making good economic sense, a green economy paradigm will provide opportunities to reduce carbon emissions.
He called on Trinidad and Tobago to lead the Caribbean into a new age of green energy, changing the way PetroCaribe currently operates. Williams stated that the CDB has opened up many areas of access to assist companies willing to go green.
He stated, “Investing in renewable energy is key. Subsidies have grown over the last few years. CDB is willing to help fund energy efficient projects through things like concessional loans.”
The Policy Consultant outlined a number of areas that still needed to be addressed including the need for policies, a raft of incentives and the lack of capacity in critical areas. He urged all nations to get involved stating, “Renewable energy is not the business of one country, it is the business of all countries.”
Meanwhile, Business Development Manager at Massy Energy, Dr. Dirk Nuber, said the Caribbean must harness more from the sun in the form of solar energy. He went on to say: “Most countries in the Caribbean still depend on fossil fuels. While many countries are good for solar, they are not using it.” He further added that there is great investment in renewable energy and the Caribbean must start adapting to it.