Renewable resources are good for the environment, good for remote areas, and don’t need expensive infrastructure. All of these benefits of renewable power generation have led poorer countries to embrace distributed renewable energy!
The boom in renewables is often made for economic reasons, Ethan Zindler, a Washington-based Bloomberg New Energy Finance analyst, said in an interview. An island nation like Jamaica, where wholesale power costs about $300 a megawatt-hour, could generate electricity from solar panels for about half as much. Similarly, wind power in Nicaragua may be half as expensive as traditional energy.
“Clean energy is the low-cost option in a lot of these countries,” Zindler said by telephone. “The technologies are cost-competitive right now. Not in the future, but right now.”