The future never looked brighter for renewable energy in Guyana

Dear Editor,
Renewable energy is taking over electricity grids around the world. Wind and solar energy now provide almost 10 per cent of global electricity, compared to less than 1 per cent just 15 years ago.
This dramatic transformation has been powered by increasingly low costs. According to data from the International Energy Agency, wind and solar now provide electricity cheaper than virtually all other forms of power. However, there is one major drawback — intermittency.
Unlike many other sources, wind and solar do not provide power on a steady and predictable schedule. Instead, the electricity generated by a wind or solar farm depends on the weather.
This presents a challenge for grids.
Demand for electricity fluctuates constantly, and grid operators must ensure that the supply of electricity meets demand at all times. When consumers turn on air conditioners at mid-day, grid operators must increase electricity production to compensate. Typically, this is done through “dispatchable” generation, which can adjust output as needed. The most common dispatchable sources include natural gas and hydro-electricity.
When intermittent sources are introduced to the mix, grid operators are forced to rely more heavily on dispatchable sources to ensure sufficient electricity supply. If intermittent sources make up only a small share of overall production, this problem remains very manageable. However, as renewables continue to grow, smoothing out the gap between supply and demand becomes more challenging. Years ago, some critics had suggested that this would limit renewable sources like wind and solar to a negligible role in the grid. While renewables now play a major role in many grids, variability remains a challenge at high penetration rates.
While our quest for a clean and green energy source is getting some positive vibes, the renewable energy industry is also open for investment. Just like any other investment, the renewable energy sector (solar, wind, geo-thermal) requires you to consider the investment horizon and risk tolerance. In fact, you should start with the least risky investments that offer a maximum time horizon.
The economic growth of renewable energy has been outstanding. With the passage of time, more and more individuals are investing in this field to get their share. For instance, investing in the solar power sector is a great idea to multiply your money without any serious risk.
Guyana will complement this strategy with the development of renewable energy sources to sustain its growing energy demand. The future never looked brighter for renewable energy in Guyana.
Historically, Guyana has been reliant on diesel and heavy fuel oil to power its economy, which not only emit more carbon, but are also more expensive. By developing its wind resources along the Atlantic shoreline, installing solar panels in the hinterland, building solar farms and developing a large-scale hydro project, Guyana would “green” its grid in the future.

Sincerely,
David Adams