The Dominican Republic could be getting 27% of its energy from renewable sources by 2030.
According to a new report launched by the International Renewable Energy Agency (IRENA), the main challenges and opportunities for the Dominican Republic lie in the power sector.
Under current policies, the country’s share of renewables in power will only reach 21% by 2030, falling short of the 25% by 2025 national target. If policies target rich renewable resources like solar and wind, they could deliver up to 44% of all electricity generation by 2030.
Dolf Gielen, Director of IRENA’s Innovation and Technology Centre, said: “The Dominican Republic can become one of the leading countries in the Caribbean region for renewable energy deployment.
“If leaders act now to implement more renewables, the country can reduce air pollution, enhance energy security, boost the economy and play a leading role in the global fight against climate change.”
An estimated annual investment of $566m (£428.5m) in renewable energy is needed between now and 2030 to reach the 27% renewables mark. This will result in annual savings of up to $5.3bn (£4.01bn) by 2030.