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Guyana ranks second last in region for renewable energy generation – 2024 report
Kaieteur News – Guyana has the second lowest renewable energy generation capacity in Latin America and the Caribbean, according to a new report from the Latin American and Caribbean Development Bank (CAF).
The chart shows the share of non-fuel generation, i.e. the share of non-thermal generation in electricity production and the percentage obtained from non-conventional renewable energy sources (NCRE), including solar and wind. (Source: CAF 2024 Energy Report)
In its 2024 Economic Development (RED) report, Renewable Energy: A Just Energy Transition for Sustainable Development, CAF explains that total energy consumption in Latin America and the Caribbean is 24.2 exajoules (EJ), of which 20% (4.78 EJ) is used for electricity generation.
“This electrification rate is slightly lower than that of OECD countries (about 22%), and it varies significantly from country to country, ranging from 1% in Haiti and 7% in Guatemala to 26% in Panama and 27% in Suriname,” the report said.
Notably, 57% of the region’s electricity comes from renewable sources. This is significantly higher than the world average of 36%.
The energy report explains that the region has a relatively clean electricity mix. “Non-conventional renewable energy (NCRE) accounts for 11% of electricity generation, similar to the global value, which shows the advantage of non-fuel generation coming from water resources, where 80% of renewable electricity comes from,” the report states.
In addition, the proportion of electricity generated from these sources varies from country to country, with Caribbean islands having a lower proportion of non-fuel electricity generation, with the Dominican Republic having the highest proportion at only 14%.
Meanwhile, in South America, a group of moderately advanced countries have non-fuel generation accounting for 30% to 40% of total electricity generation, while another group of developed countries has this figure between 74% and 80%.
Paraguay stands out in the report because it gets all of its electricity from hydropower. Most Central American countries have between 44% and 68% of their electricity coming from hydropower, with only Mexico (23%) at the lowest end and Costa Rica (99%) at the highest.
While the report does not provide specific details on Guyana’s renewable energy generation or the country’s progress in this regard, a table shows that the country is underutilizing its generation from non-conventional renewable energy (NCRE) sources, including solar and wind.
The energy report highlights the need to increase electrification rates and use green energy. It explains that in the net zero emissions scenario announced by the International Energy Agency (IEA), the region’s electrification rate will reach 41% by 2050. Along with this expansion, solar and wind power installed capacity will also grow significantly, reaching 43% and 19% respectively by 2050.
While countries around the world are transitioning towards renewable energy, Guyana has taken a different approach and said it will provide the required electricity by using natural gas – a cleaner fuel compared to the heavy fuel oil (HFO) currently used to meet the country’s electricity needs.
In April, this newspaper reported that seven states are now using renewable energy to meet almost all of their electricity needs. However, the Government of Guyana (GoG) insists that renewable energy cannot be used to provide a stable supply of electricity to the country.
A recent report in The Independent highlighted that countries such as Albania, Bhutan, Nepal, Paraguay, Iceland, Ethiopia and the Democratic Republic of Congo generate more than 99.7% of the electricity they consume using geothermal, hydro, solar or wind energy.
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