Caribbean Renewable Energy - A Quick Outlook

Fast facts and key strategies

• Renewable Energy Growth: CARICOM member states have reached 12% renewable electricity penetration, with a goal of 47% by 2027.
• Solar and Wind Expansion: The region has installed 700 MW of renewable energy capacity, with solar and wind leading the charge.
• Energy Storage Innovation: Battery Energy Storage Systems (BESS) are gaining traction, with lithium-ion and sand battery technologies being explored for grid stability.
• Blended Finance Solutions: The Caribbean is leveraging climate resilience funds and public-private partnerships to de-risk investments and accelerate clean energy adoption.
• Regional Collaboration: Platforms like Climate Analytics Caribbean, CARILEC and CCREEE are uniting utilities, governments, and investors to streamline policy frameworks and scale renewable projects.

Key strategies for advancing renewable energy

• Regional Demand Aggregation: Pooling energy demand across SIDS can strengthen investment negotiations, making projects more financially viable and increasing bargaining power with developers.
• Blended Finance Innovation: Public-private partnerships, climate resilience funds, and community-backed financing models can help de-risk investments, ensuring that both large-scale utilities and grassroots initiatives have equitable access to funding.
• Community-Owned Microgrids: Expanding cooperative solar and microgrid models allows local residents to generate, store, and distribute their own power, fostering both energy independence and economic opportunity.
• Policy Alignment & Utility Reform: Strengthening regulatory frameworks to support decentralized energy generation will accelerate progress and enable private sector engagement, ensuring fair pricing structures for small-scale users.

The road ahead

Now is the time for bold commitment and collective action. The Caribbean cannot afford to wait. The region must collaborate, innovate, and engage in policy reform to make renewable energy adoption more than a goal, but a lived reality. Let’s drive the transition forward together!