With current policies, the share of renewables in electricity generation in Dominican Republic will only reach 21% by 2030, remaining well below the national target of 25% for 2025. But if the vast resources of the country are harvested, mainly solar and wind energy, renewable energies could provide up to 44% of the national electricity output by 2030, according to a new report by the International renewable energy Agency, IRENA.
The Dominican Republic can increase the share of modern renewable energies in its energy mix from 9 to 27% by 2030, says the Renewable Energy Prospects: Dominican Republic report indicating that only in the energy sector, the country could increase its share of renewables from 12 to 44% by 2030, the organization claims in a statement.
“The Dominican Republic can become one of the leading countries in renewable energy deployment in the Caribbean region” Dolf Gielen, director of the Center for Innovation and Technology IRENA said. “If the government acts immediately to increase their share of renewables, the country can reduce air pollution, improve energy security, strengthen its economy and play a leading role in the global fight against climate change,” he explained.
According to the report, the main challenges and opportunities for the Dominican Republic are in the energy sector. With current policies, the share of renewables in electricity generation will only reach 21% by 2030, remaining well below the national target of 25% for 2025. If harnessed, however, the vast resources of the country, mainly in solar and wind energy, renewable energy could provide up to 44% of national electricity output by 2030.
Annual net savings of up to $ 5.3 billion
To achieve the goal of 27% renewables in the national energy mix, an estimated 566 million dollars annual investment is required between now and 2030. Achieving this will result in annual net savings of up to $ 5.3 billion by 2030 taking into account factors such as population health and carbon emissions reduction.
The report by IRENA recommends a set of actions that can contribute to achieving the potential of renewable energy in the country, for example: setting clear and consistent targets on renewable energies, designing incentives and timely market mechanisms and planing energy transport infrastructures and electricity networks expansion, among other measures. The report’s recommendations, particularly its innovative approach to integrate variable renewable energy in the electricity sector provides a model applicable to other islands, the note says.
A model applicable to other islands
“Many island countries face similar challenges in energy security and energy access” Gielen indicated. “This is the reason why the measures proposed in this report can be useful for many other countries, beyond the Dominican Republic.”
The report is part of IRENA roadmap for renewable energy, REmap 2030, which provides a plan to double the share of renewable energy in the global energy mix by 2030. The REmap roadmaps determine the potential of countries to proportionally scale up their renewable energy technologies in the electricity sector and other end-use sectors such as construction, industry and transport.