Future Power Supply Options for Island Markets
Many island and isolated markets continue to burn oil products for power generation, which historically has been the only option available to markets lacking indigenous fossil fuel resources of their own, but is also an expensive and carbon-intensive means of producing electricity. As a result, end-user electricity prices in island nations are among the highest in the world. However, alternative power supply options for island markets are becoming increasingly viable, both as a means to displace oil and to meet growing demand for electricity.
Some Island Markets Are Already Beginning to Look Beyond Oil for Power Generation
This study assesses some of the options open to island power markets to displace oil used in power generation, focusing on the levelized cost of electricity (LCOE), as well as each option’s advantages, disadvantages and constraints.
Table of Contents
- Introduction and Key Findings
- Addressable Market Size
- Modeled System Characteristics
- Cost Assumptions and Levelized Cost of Electricity Analysis
- LCOE Sensitivities