The higher renewables share would reduce the country’s carbon emissions by 23 percent and save billions of dollars according to the report Renewable Energy Prospects: Dominican Republic, published last Thursday (28th July). The share of renewables in the country’s power sector alone could increase from 12 to 44 percent by 2030. It is in the power sector that the main challenges and opportunities for the Dominican Republic lie.
Under its current policies, the country’s share of renewables in power generation will only reach 21 per cent by 2030, falling short of the 25 per cent by 2025 national target. Harnessing the country’s rich renewable energy resources – mostly from solar and wind – could deliver up to 44 per cent of all electricity generation by 2030.
“The Dominican Republic can become one of the leading countries in the Caribbean region for renewable energy deployment” said Dolf Gielen, Director of IRENA’s Innovation and Technology Centre. “If leaders act now to implement more renewables, the country can reduce air pollution, enhance energy security, boost the economy, and play a leading role in the global fight against climate change.”
Mr Gielen added that many island nations face similar challenges in the energy sector, including energy security and energy access and that the measures outlined in the report can thus be helpful far beyond the Dominican Republic.
An estimated annual investment of $566 million in renewable energy is needed between now and 2030 to reach the 27 per cent renewables mark. However, achieving this will actually result in a net annual savings of up to $5.3 billion annually by 2030 when accounting for factors like human health and reduced emissions.
The report recommends a suite of actions to help achieve the country’s full renewable potential including setting clear and consistent renewable energy targets, designing appropriate incentives and market mechanisms, and conducting transmission planning and grid expansion, among other measures. The report recommendations, specifically the innovative approach to integrating variable renewables in the power sector, provide a model applicable for all islands.
The report is part of IRENA’s renewable energy roadmap, Remap 2030, which provides a plan to double the share of renewable energy in the global energy mix by 2030. REmap roadmaps determine the potential for countries to scale up renewable energy technologies in the power sector, and other end-use sectors such as buildings, industry and transport.
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