Authors: Don Charles
Addresses: Department of Economics, The University of the West Indies, St. Augustine Campus, Trinidad and Tobago
Abstract: The Caribbean region possesses some attributes which favour the development of the solar photovoltaic (PV) industry. Despite these advantages, the region has had limited success in the solar industry. There are currently challenges in the industry such as information asymmetry, high upfront installation cost, difficult in attaining financing for both manufacturers and potential customers, and licence restrictions for electricity generation. Policy and government support is needed to create an economically attractive environment for the PV industry. Tax concessions, preferential tariffs, tax exemptions, low-interest loans and infra-structure support are examples of the some policy tools needed to develop the solar PV cluster in the Caribbean.
Keywords: solar energy; Caribbean energy; green economics; global value chain analysis; solar power; information asymmetry; installation costs; financing; licence restrictions; electricity generation; energy policy; government support; tax concessions; preferential tariffs; tax exemptions; low-interest loans; infrastructure support.
International Journal of Green Economics, 2014 Vol.8 No.1, pp.1 - 18
Received: 08 May 2021
Accepted: 12 May 2021
Published online: 26 Aug 2014 *