The cost of electricity to Jamaican consumers should reduce in the next five years with the implementation of the Integrated Resource Plan (IRP) by the Ministry of Energy.
The IRP will also assist the Ministry in predicting consumption for 20 years, which will result in the reduction in power outages, as well as reduce the effects of blackouts. It is also expected to control the island’s carbon footprint.
During a press conference at the Petroleum Corporation of Jamaica on Monday, Minister of Energy, Fayval Williams and Fitzroy Vidal, director in the Ministry of Energy, said that the increased use of renewables would lead to a reduction in energy costs.
According to Williams, with the IRP, Jamaica is seeking to attain half of the 2037 target of 50 per cent electricity generation from renewables by 2025.
She said this would mean that the island would double the current generation of 12 per cent from renewables.
She said the expected renewables energy generation by 2025 is approximately nine per cent from wind, 10 per cent from solar, biomass and other waste to energy three per cent, hydro three per cent and Liquefied Natural Gas (LNG) 69 per cent.
Meanwhile, Vidal said the reduction from fuel generation to renewables would result in the reduction in cost to consumers. He said that 50 per cent of the current cost is fuel.