BROOKLYN, NY– Guyana is advancing a low-carbon development pathway in the shift towards clean and renewable energy. While doing so, it is setting the stage for solar power to be a significant contributor to Guyana’s energy mix.
This is dependent on public investment and the fostering of an attractive environment for private investment, Minister within the Ministry of Public Works, Deodat Indar, said in a public statement on Wednesday.
He explained this would be done utilizing a combination of fossil fuels, natural gas, hydropower, and solar power.
The Minister noted that Guyana embarked on this process 13 years ago with its Low Carbon Development Strategy (LCDS), and at this point, it is a net-zero carbon emitter.
He said the government is currently updating and expanding the LCDS to address new realities and dynamics.
India, Vice President of the International Solar Alliance for the Latin America and the Caribbean (LAC) Region – a global alliance that consists of over 120 countries working to reduce fossil fuel use by pushing for efficient solar power consumption – explained that conditions for investment in solar power projects are attractive.
“The declining levelised cost of electricity produced from solar [photovoltaic] PV offers a cost-effective way to provide affordable energy for businesses and households, improve energy security, reduce our dependence on imported fossil fuels and take advantage of Guyana’s solar isolation levels,” he said.
“The readily available and falling prices of solar energy compared to the conventional fuel oil makes it an attractive alternative to displace fossil fuel use.”
Guyana’s need to achieve universal energy access, Minister Indar noted, is what informs the government’s commitment to implement solar systems for off-grid areas, expansion of the hinterland electrification program, including replacement and upgrade of solar systems, and development of microgrids.
He reminded that the government removed import duties and Value Added Tax from machinery and equipment for obtaining, generating, and utilizing energy from renewable sources, including solar panels, batteries, inverters, and LED bulbs. India added a one-off tax holiday of two years for private sector investment in solar energy. This, the Minister said, is in line with the LCDs.
He encouraged all to be educated on solar energy and to support the government’s initiatives.
Indar’s message comes ahead of the 26th Conference of Parties on Climate Change, a United Nations event, which will be held in Glasgow, Scotland, later this year.
He encouraged leaders and key stakeholders to continue supporting solar energy development around the world, sharing resources and best practices, and providing the necessary technical and financial support for developing countries.
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