Return on investment for large-scale energy storage in Jamaica

4 FAQs about Return on investment for large-scale energy storage in Jamaica

Why is energy storage important in Jamaica?

Jamaica is committed to reducing its dependence on imported fossil fuels. The country's National Energy Policy sets an ambitious target: 50% of electricity from renewable sources by 2037. Energy storage plays a critical role in achieving this target. Key policy support includes:

Why should Jamaica invest in battery storage?

Investment in battery storage will help manage the intermittent nature of solar and wind, ensuring a reliable power supply. Innovations like floating solar and green hydrogen could further diversify Jamaica's energy mix in the coming decades. Public support and community engagement will be crucial.

How can battery energy storage help Jamaica?

Battery energy storage systems (BESS) are now emerging as a cornerstone technology to address these challenges—helping Jamaica stabilize its grid, unlock more renewable energy, and reduce electricity costs for both consumers and businesses. The country's electricity cost can reach as high as $0.32 per kilowatt-hour, far above global averages.

How can Jamaica handle a higher share of variable renewables?

Jamaica's grid must be upgraded to handle a higher share of variable renewables. Modernizing the grid and adding storage solutions like batteries will be critical. While the cost of renewables is decreasing, upfront capital requirements remain significant. Accessing affordable financing and attracting private investment is key.

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Power utility Jamaica Public Service Company, JPS, is investing US$300 million to construct Jamaica''s largest solar power plant and a battery storage facility, starting this month.

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Investment in battery storage will help manage the intermittent nature of solar and wind, ensuring a reliable power supply. Innovations like floating solar and green hydrogen

Storing the sun, stabilising the grid

In anticipation of this, the 2023 designation of the Mahogany Vale Dam as a national priority project is both timely and strategic. The project''s pumped hydro energy

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Even with a combined output from all renewable sources, the researchers suggest that Jamaica''s current energy sector operations make achieving the 50% target by mid

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Explore how battery energy storage systems are transforming Jamaica''s power sector—cutting energy costs, reducing outages, and enabling renewable energy growth.

Jamaica''s Future with Battery Energy Storage

Explore how battery energy storage systems are transforming Jamaica''s power sector—cutting energy costs, reducing outages, and enabling

Jamaica Making Progress in Meeting 50 Per Cent Renewable Energy

In pursuit of the renewable energy target, the Government implemented legislation, enabling Jamaica Public Service (JPS) customers with renewable energy generators to sell

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The Government is accelerating investments in solar, hydro, wind, and pumped storage while also preparing the country to adopt emerging technologies, including small

JPS spending US$300m on renewable energy

Power utility Jamaica Public Service Company, JPS, is investing US$300 million to construct Jamaica''s largest solar power plant

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