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DEVELOPING THE SAINT LUCIA ENERGY ROADMAP
The National Energy Transition Strategy (NETS) for Saint Lucia identifies an optimal energy portfolio consisting of solar, wind, energy storage, energy efficiency, and existing diesel generation. This combination is projected to reduce diesel expenditures by 42% and carbon emissions by 40% by 2025. The report emphasizes that utility ownership generally leads to lower customer rates and that energy efficiency is the most cost-effective resource for minimizing system costs. While geothermal energy offers significant base-load potential, its viability depends on concessional financing and successful exploration. The strategy also highlights the need for regulatory reform, specifically decoupling utility revenues from sales to incentivize energy efficiency and avoiding 'rate shock' associated with certain independent power producer (IPP) arrangements.
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Document type: Report