Future Power Supply Options for Island Markets

by Tom Heggarty

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.

This brief is part of GTM Research’s Global Downstream Solar Service. To learn more or schedule a demo, please contact solarsubscription@gtmresearch.com.

Table of Contents

  1. Introduction and Key Findings
  2. Addressable Market Size
  3. Modeled System Characteristics
  4. Cost Assumptions and Levelized Cost of Electricity Analysis
  5. LCOE Sensitivities
  6. Summary
  7. Appendix


Tom Heggarty Senior Analyst, Solar

Tom is a Senior Analyst for GTM Research covering global downstream PV markets. Prior to joining GTM in 2017, he worked for Wood Mackenzie for over 5 years; initially as an analyst producing research on electricity markets in Europe, the Middle East and Africa; and later as a Research Manager for Wood Mackenzie’s Energy Markets research product. In 2011, Tom graduated from the University of Edinburgh with a Master’s degree in Mathematics. He also spent a year studying at the Humboldt University in Berlin.

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