The justification for CREDP grew out of the Caribbean's high dependence (98%) on fossil fuels for its electricity and the consequent air, land and water pollution. It was considered that fossil fuel prices might increase in the future, causing balance of payment problems and constraining private consumers. RE was viewed as a means of preventing such future constraints while reducing the region's primary source of greenhouse gas (GHG) emissions and enhancing its energy security. CREDP was envisaged as the mechanism to help remove the barriers and make RE a reality in the Caribbean.
Latin America and Caribbean