Cayman’s energy market will need to see a radical transformation over the next two decades to meet the ambitious goals outlined in the first National Energy Policy passed last year.
Especially the aim to derive 70 percent of all electricity from renewable sources only 20 years from now demands a complete reconsideration of how Cayman generates its power.
Currently, less than 5 percent of energy is renewable, and the generation mix is simple.
Caribbean Utilities Company, Cayman’s exclusive energy provider, is running a diesel power plant that has a generation capacity of 161 megawatts. In addition, Entropy Cayman Solar Ltd. opened a 5MW solar facility near Bodden Town in June 2017 and rooftop solar panels generate approximately 3 to 4MW of energy.
Speakers at the Caribbean Transitional Energy Conference at the Kimpton Seafire in September offered the first indication of how Cayman could quickly reduce its overwhelming dependency on burning fuel for energy.