Top 10 Reasons Why the Caribbean Is Primed To Be the Next Leader in Renewable Energy

TOP 10 REASONS

Why The Caribbean Is Primed To Be The Next leader In

RENEWABLE ENERGYwww.reelcaribbeanenergy.com

The Caribbean region is catching the eye of investors and energy companies alike as climate change and rising energy costs

demand the use of renewable energy.

Here's 10 reasons to keep your eye on this region:

10. Big investment potential.The Caribbean Development Bank (CDB) is stepping up efforts to attract investors to the Caribbean due to the fact that every year there's a 1 in 5 chance that a storm could rupture through the region and cause $20+ billion in storm damage.

It's been stated that $30 billion is needed to update and modernize the Caribbean’s energy infrastructure in order to protect it from extreme weather circumstances.

"There's a 10 to 24 per cent possibility of one or more of our countries being hit by a major weather event each year and the damage would average about one percent of GDP but in some instances it's significantly greater," Dr. Warren Smith, president of the CDB, tells Business Green (full article here):http://www.businessgreen.com/bg/interview/2355643/how the caribbean plans to-become a green energy powerhouse).

9. A long term solution to weather is needed.

Solar, biogas and wind projects across the region are increasing as more countries seek to get "off the grid" and not be dependent on expensive traditional utilities

8. Renewable energy projects are already being deployed in the region.

The CDB has secured a €50 million line of cheap credit from the European Investment Bank (EIB) to invest towards those member states committed to building up their renewables capacity.

7. The European Investment Bank has opened a €50 million line of credit for the CDB.

The region needs policy support from governments if it is to get the funding for future survival as viable economies. Only two countries Jamaica and Barbados currently have legislation in place allowing households and businesses generating their own power through technologies. This leads to a policy gap that acts as a barrier to wider investment.

6. The CDB is working to update legislation.

Smith told Business Green, "Much of the eastern Caribbean the smallest Caribbean countries have large amounts of geothermal potential, allowing them to dramatically reduce their fossil fuel imports and put them in a position where they could become an exporter of energy because of the proximity of nearby islands without these resources."

5. There’s big geothermal potential in the eastern Caribbean.

The cost of energy is higher than ever in the Caribbean, and only going up as climate changes, devastating storm threats and outdated policies continue. More companies and consumers are seeking and demanding alternative energy solutions.

4. There is growing concern about the climate and a push to find alternatives to traditional utilities.

The Caribbean Renewable Energy Forum (CREF) holds annual meetings in Miami to focus on these topics and increase initiatives. The CREF is the largest and longest established Caribbean renewable event in the hemisphere.

3. The Caribbean is going global.

2. Dominica, Montserrat and Guyana are blazing a trail.

The three took the top three spots in the Castalia Renewable Energy Island (CREF) Index for 2013. Their biggest areas of progress are in planned renewable energy generation.

"There's a 10 to 24 percent possibility of one or more of our countries being hit by a major weather event each year and the damage would average about one percent of GDP— but in some instances it's significantly greater," Smith told Business Green. "The threat is getting more and more ominous as climate change unfolds and as the world delays its response to that phenomenon." Due to the shifts in climate and increasing energy demands, finding renewable energy sources is becoming a necessity..

1. Renewable energy will no longer be a choice.

For more about Caribbean energy programs including the "Save As You Pay, Pay As You Save Program"

founded by Reel Caribbean Energy LLC, visit

http://www.reelcaribbeanenergy.com.