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Renewable Energy -Facts & Fiction

Renewable Energy -Facts & Fiction

Author: GRENLEC Blogger/Thursday, September 24, 2015/Categories: General

CHANGE FOR THE BETTER 

As our nation transitions to greater use of renewable energy to reduce our dependence on fuel imports and stabilize costs, it’s important to know the facts. 

Renewable energy and energy efficiency play a vital role in controlling energy costs, reducing dependence on foreign fuel, and building greener economies and communities. Over the last 20 years, Grenlec has taken the lead in Grenada to build our nation’s world-class, reliable electricity system and introduce renewable energy sources to achieve our nation’s goal of 20% renewable energy generation by 2020. Grenlec looks forward to working collaboratively with our Government to make changes in our energy sector that are in the best interest of our nation. We’re proud to serve you well. 

ADDRESSING RENEWABLE ENERGY MYTHS AND REALITIES 

Myth

Fact

Renewable energy is cheaper than fossil fuels

Renewable energy is becoming more cost-competitive with fossil fuels because of the advancements in solar and wind technologies. However, despite price decreases in the solar and wind industries, in Grenada renewable energy is still more expensive than fossil fuels for electricity generation, especially given the recent reductions in world fuel prices and the relatively small scale of projects that can be developed. RE costs include developing and financing projects, as well as upgrading existing infrastructure to maintain reliability.

Grenada’s renewable energy resources are limitless and can provide 100% of Grenada’s electricity needs.

Grenada has the potential for clean energy options as part of a diversified energy mix. Since wind and solar energy are intermittent and dependent upon weather conditions, the current electrical infrastructure must be maintained to ensure reliable electricity supply. While geothermal energy (heat from the earth), would provide firm capacity, studies to determine its feasibility for Grenada are ongoing.

Customers that generate their own electricity do not need to use the utility grid.

The electrical grid is the backbone of reliable electricity service delivery. Customers who have solar panels or a wind turbine are connected to the grid to maintain reliability. Connection to the electrical grid also helps customers avoid purchasing costly energy storage devices for their renewable systems.

Grenada has abundant land options for renewable energy generation.

The availability of suitable land that is conducive to renewable energy generation is the biggest challenge. Land ownership and terrain issues have impeded progress on numerous renewable energy projects to date.

Integrating more renewable energy sources will drive down prices in Grenada.

Transitioning to a diversified energy portfolio with proven technologies requires a thoughtful, balanced approach, that takes into consideration the cost to maintain the current infrastructure and to accommodate new generating resources without increasing prices, disrupting reliability, or threatening power quality.

Germany and other countries have lowered electricity prices with renewable energy.

Lessons can be learned from Germany and other countries where a large increase in subsidised renewable energy actually increased electricity prices. As cited in the Finadvice “Development and Integration of Renewable Energy:

Lessons Learned from Germany” — electricity prices doubled over a ten-year period in Germany, Spain and Greece with rapid deployment of renewable energy.

For more information: http://www.finadvice.ch/files/germany_lessonslearned_final_071014.pdf

Homes and businesses can do little to control energy costs.

There are many ways that residents and businesses can help stabilise electricity costs. Using energy efficiently goes a long way in helping to reduce energy demand, save money, make us more competitive, and preserve our natural resources. For ways to save energy, please visit www.grenlec.comenergy and energy efficiency

 For more information, email us: grenleccurrent@grenlec.com

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