ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

A+| A| A-

Regulating Renewable Energy Investment in Developing Countries

What Is Stopping the Obvious?

For the vast majority of human existence, international trade was fuelled by renewable energy. Trade winds were used to cruelly bring enslaved labour from Africa to grow cane, limes, bananas, and cocoa in the Caribbean and powered the windmills that turned the cane into molasses and sugar. The Gulf Stream took the finished products to market. If the earth spun on its axis in the opposite direction like Venus and Uranus and the winds followed suit, the rest of the world would not have enjoyed Demerara sugar, Blue Mountain coffee, and Rose’s Lime Juice Cordial. The sun made it all grow productively, in not always deep soils or level ground.

Today, however, most energy in the Caribbean and other developing regions is generated through importing dirty fossil fuels. Electricity prices are generally higher than in industrial economies, stifling economic development. Between the tropics of cancer and capricorn, countries are increasingly racked by climate disasters that make dependence on imported fuels partly a question of poor energy security. Therefore, rapid investment in turning renewable resources in the deve­loping world into energy seems natural and obvious. But just because something is obvious, it does not make it happen. A few developing countries can boast to almost entirely turning over to renewable energy, like Belize, Costa Rica, the Democratic Republic of the Congo, Kenya, and especially those with hydroelectric potential. Elsewhere, the pace is slow. Too slow for the planet, but also too slow to drive sustainable development, which begs the question: What are the obstacles and how to remove them?

Dear Reader,

To continue reading, become a subscriber.

Explore our attractive subscription offers.

Click here

Updated On : 14th Feb, 2021
Back to Top