Page 11 - CARILEC CE Industry Journal_Oct_2019
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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.
CE INDUSTRY Journal 09