(CNS): The Bureau of Public Utility Regulatory Competition (OfReg) has signed a CI $ 78,000 contract with a consultant to implement the “value of solar energy” to help the country move towards its renewable energy goals. .. OfReg is responsible for regulating the emerging solar sector, which is a small step in a long process towards that end.and press release OfReg, published Thursday, states: Renewable Energy Consultant, RMIWas engaged in investigating the unique aspects of the local solar market.
The goal set in the National Energy Policy Goal is that 70% of the energy in the Cayman Islands is produced by green resources. However, the country is far from the target and now more than 3% of electricity is produced by renewable energy. Five years after its inception, OfReg has not yet developed the regulatory framework required for solar energy, and has made no progress in accelerating its terribly slow migration.
After securing this agreement, OfReg states that RMI needs to assess the value of photovoltaics (PV) from a social and utility perspective. This study includes impacts on grids and grids, and examines energy costs, pricing options, and the economic potential of regional distributed solar energy systems.
Gregg Anderson, Executive Director of Energy at OfReg, said: “This important study comes from a highly regarded organization that analyzes various benefits and costs and adds real money to distributed solar power. The value that solar provides to grids and payers. We hope that making a decision will help inform our decision-making process. “
OfReg’s interim CEO, Peter Gough, explained the importance of this study. Currently, CUC’s consumer-owned renewable energy (CORE) and distributed energy resource (DER) programs are directly regulated as OfReg is just beginning to consider how to regulate this critical sector. Is not … This has been blamed for the very slow adoption of green energy in the Cayman Islands.
“The value of solar research helps OfReg determine the right price for energy for customer-owned solar systems to provide power grids, and the Cayman Islands achieve the future of clean energy envisioned in national energy policy goals. It’s an important step to help with, “Goff said.
