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Guyana’s ability to generate all its power from renewable sources was revealed at a workshop hosted by the Caribbean Policy Research Institute (CaPri) in collaboration with the Caribbean Community Secretariat (CARICOM). The forum was held at the Arthur Chung Convention Centre on Friday.The workshop saw attendance by representatives from both the public and private sector fraternities. Discussions were held as they provided insights and made contributions on issues surrounding renewable energy development in Guyana.With funding from the European Union (EU),Cheap NFL Jerseys, CaPRI has been analysing conditions needed for sustainable private-sector driven renewable energy investment in the Caribbean,Wholesale NFL Jerseys, and developing tools for private and public sector “actors” to progress on that direction.Dr. Suzanne Shaw, Project Manager for CaPRI, submitted a report that revealed that Guyana’s average annual electricity consumption is 405 GWh; 37% being industrial,Cheap NFL Jerseys China, 45% residential and 18% commercial.“In 2012, when we started the baseline work, four per cent of energy needs in Guyana were being met by renewable energy sources, primarily from bagasse, solar and wind with 96.3% coming from oil-based sources,Wholesale Jerseys,” she pointed out.Renewable Energy projects such as Solar, wind and bagasse, her report shows, would benefit Guyana significantly since oil imports – for 2013 – shows 4.7M barrels per year with 1.65 for electricity generation alone which takes about US$500M, equivalent to 21% GDP.She also related that Guyana has set a target of 47% renewable energy for 2027 including projects to develop solar,Cheap Jerseys From China, wind and hydro, with oil-based sources reducing to 53%.“So if you think about the things that renewable energy can contribute…with very little land space for solar,Wholesale China Jerseys, wind and using the bagasse potential, these resources can meet 100% of Guyana’s energy needs and offset a significant amount of oil consumption and Guyana’s greenhouse gas emissions. Guyana has great potential to go 100% RE,” Shaw said.Present at the workshop was Vishnu Durga, Senior Vice-President of the Georgetown Chambers of Commerce and Industry (GCCI) who said that from a “Georgetown Chamber perspective”,Cheap Jerseys NFL, they have placed renewable energy matters in a green economy, which he said has been running for several years at their chambers.He also highlighted that some of the issues that they have looked at in their green economy committee level, is to create a network of all the renewable energy players that they have in both Guyana and their memberships.“We also looked at some of the hindrances to the further utilization of renewable energy. Some of the recent matters have been the absence of legislation that would allow reversible meters to be placed because many of our members have been moving closer to being powered or sufficiently powered by solar systems”, he said.Durga also said that since there has been a decline in cost for the technology being used to support RE, he is forward for it being more accessible to both the private sector and consumers.“We further see the use of renewable energy and the continued decline of costs for this technology, it has been declining over the years and we are looking forward to it being accessible…In the past years there have been removals of duty and taxes on items that would be used in this way” Durga stated.Although Guyana’s power generation capacity is keeping up with demand, he said, a switch to more renewable energy would also give the utility company a bit more “breathing space”.He added that this switch may, most likely result in higher reliability, consistency, quality of power which is something he said his organisation and other private sector organisations have been looking forward to for years.