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SO, WHAT IS THE SILVER LINING? Utilities can do their part as well to help further mitigate
risk when comparing and selecting solar PV bids. It’s
Currently in the Caribbean, the thermal generation is at a essential to look not only at the bottom-line price but the
higher energy price than in the U.S. and Latin America developer’s track record in completing projects within the
because natural gas, oil, or other fuel is imported from contracted timeframe. Credible developers need credible
one or a few suppliers. So, despite higher renewable markets to participate in for long-term success.
project costs, the fossil fuel price can be beaten with
appropriate renewable project planning, development, Without question, solar energy is the least-cost source of
and competitive solar and energy storage pricing. power today and will get less expensive as the technology
advances and the cost for equipment continues to
In WRB Energy’s experience with power purchase decrease. Energy storage is following close behind.
agreements (PPAs) in the region, Caribbean utilities can
successfully manage and work through the issues to Many of us in the energy industry are contemplating
develop and deliver renewable energy projects on schedule how monumental these pricing shifts are for a
at a competitive price. Solar investment and development sustainable renewable energy future. The impacts will
decisions can be tied specifically to the characteristics of change how we live and operate for decades to come.
the nation and available sites using the appropriate The same is now true in the Caribbean even though the
technology to balance and optimize efficiency and cost. metrics are different.

ABOUT THE AUTHOR

Chris has extensive utility-scale project development experience as part of the WRB
Energy team. His focus is on power marketing, development management, and M&A.
Previously, he worked with Foresight Renewables on a 1,000+ MW wind and solar
development portfolio with 300+ MW of power contracts with utilities in the southwest
U.S. He was a lead developer of 28MW Content Solar in Jamaica, one of largest solar
Chris Cadwell, WRB Energy
Vice President projects in the Caribbean. He has worked extensively with island utility executives
Renewable Energy considering the implications of storage and renewables.
About WRB Energy
WRB Energy specializes in diversifying energy portfolios through renewable energy
development to stabilize power prices throughout Latin America and the Caribbean. For
more information, visit www.wrbenergy.com
+1-813-251-3737 | [email protected] | wrbenergy.com

28 CE INDUSTRY Journal