Think tanks encourage Caribbean to move away from fuel oil
High imported diesel prices make renewable energy competitive in the Caribbean
For decades, Caribbean nations have spent large sums of valuable hard currency on diesel, imported for power generation. Renewable energy projects could change this. Electricity generated from high-sulfur fuel oil is both polluting and expensive. The average cost of electricity across the Caribbean ranges from $0.30 per kilowatt hour (KWh) to $0.65/KWh - roughly three to six times the price paid in the continental US. Prices as high as this hurt the region's economic competitiveness. Businessman Richard Branson, chairman of Virgin Group and a Caribbean resident, plans to change that. Working with two think tanks, the Carbon War Room, which he helped found, and US-based Rocky Mountain Institu
Also in this section
9 January 2026
A shift in perspective is needed on the carbon challenge, the success of which will determine the speed and extent of emissions cuts and how industries adapt to the new environment
2 January 2026
This year may be a defining one for carbon capture, utilisation and storage in the US, despite the institutional uncertainty
23 December 2025
Legislative reform in Germany sets the stage for commercial carbon capture and transport at a national level, while the UK has already seen financial close on major CCS clusters
15 December 2025
Net zero is not the problem for the UK’s power system. The real issue is with an outdated market design in desperate need of modernisation
