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Conclusion and Recommendations Establishing and nurturing a comprehensive and strong renewable energy industry across such a vast landscape is no small challenge, yet the rewards are well worth the efforts. A well- constructed renewable energy industry brings jobs, energy security, education in science and technology, and modern infrastructure directly to the countries that need it most. On a much broader scale, nations will benefit from having a more skilled workforce, safer environmental conditions, increased trade opportunities, and improved multinational relations. Finally, and possibly most importantly, countries that invest in renewable energy will benefit from extraordinary savings on energy imports that can be re-invested in local economies rather than sent abroad. The global trend toward renewable energy is not just a market shift within the energy industry, but a broad re-orientation of society as we move into the future. Because of the high cost of electricity, many countries in LAC are actively working to advance their renewable energy markets. Emergency solar lighting has been installed at Piarco International Airport in Trinidad and the Crown Point airport in Tobago (Bureau, 2009). In Grenada, national electricity provider GrenLec has adopted a 1:1 net metering practice that allows renewable energy system owners to be fairly compensated for the excess energy they produce and return to the grid. As a result, GrenSol, a leading solar company in Grenada, has installed PV systems on schools, homes, and commercial buildings (Schwerin, 2010). These are great success stories that prove renewable energy is starting to emerge as a solution. However, more work is clearly needed to maximize the capital investment, job creation, increased competitiveness, energy security, and clean air benefits associated with the development of vibrant renewable energy markets. To advance renewable energy in LAC, the public sector should: • Establish mechanisms that reduce the overall or upfront cost of installing renewable energy, including 1) third-party power purchase agreements; 2) property and sales tax exemptions; 3)solar leases; 4) feed-in tariffs; 5) national, state, and local rebate programs; 6) low-interest loan programs and micro-credit lending; and 7) net metering and other incentives to promote renewable energy technologies. • Lead by example and establish committees, energy reduction targets, and renewable energy procurement goals for governments that will challenge the private sector. Example: Trinidad’s Minister in 2009 appointed members to a Renewable Energy Committee (Singh, 2009). Renewable Energy Best Practices in Promotion and Use — Andrea Luecke — Page 23PDF Image | Waste Heat Recovery and RPS Policies in the US
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