Page 11 - CARILEC CE Industry Journal_Oct_2019
P. 11

Renewable Energy


                                      Development in the Caribbean:


               Benefits of Stable Policy and Regulation






                                                                   - Robert Blenker, President and CEO of WRB Energy




































            It may seem unusual for a renewables developer to   broader goals of energy security, carbon reduction, price
            promote the benefits of policy and regulation to drive   stability and environmental protection. This creates a
            increased renewable energy generation. However, clear   framework and targets that increase the likelihood of
            policies and stable regulation offer long-term      renewable energy investments by credible investors,
            advantages  for  electricity  consumers, utilities,   developers, and utilities.
            independent power producers, system operators, and
            renewable energy developers.                        Equally as important is effective and transparent
                                                                regulation.  Just as the policy is a roadmap, regulations
                                                                represent the rules of the road that help create a path to
            SOUND AND CONSISTENT ENERGY                         achieving policy objectives, establish economic
            POLICY, ACTION PLANS AND                            guardrails for developers and effectively allocate risk to
            REGULATION DRIVE MARKET                             the parties most capable of managing that risk.  By
                                                                managing and allocating risk, effective regulation
            TRANSFORMATION.                                     assures the most competitively priced generation,
                                                                transmission, distribution, and grid support.
            Caribbean nations with a realistic, clear, and long-term
            energy vision, backed by national energy policy and   Sound energy policy and regulations bring a higher level
            appropriate regulations are best positioned to create a   of certainty for successful renewable project
            diverse, sustainable energy future.                 investments. The net result is a creative, stable,
                                                                predictable path forward for cost-effective clean energy
            Prudent policy and plans articulate broad energy    initiatives. Ultimately, a stable marketplace leads to
            aspirations.  One might liken a national energy policy to   more feasible energy options to help deliver the lowest
            a roadmap pointing to a desired future providing the   priced energy generation and stabilize electricity costs
            context to achieve a nation’s short- and long-term goals   for consumers,  foster  energy  independence  for  national
            for  generation  mix,  renewable  energy  targets,  and   security, and combat climate change.

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