Islands may not be as blessed as continental nations with certain natural resources.
Yet for most, wind, sun, hydro and/or geothermal energies are abundant. The importation of
oil and gas to fuel small islands is growing, and the costs are increasing. Current oil price
fluctuations should encourage islands to become independent from fossil fuels and utilize
their own resources. Islands need to assess their full potential for producing clean energy
which for many includes the full array of wind, wave, and tidal power, as well as solar,
hydro, geothermal, and bio-mass. The drivers for implementing renewable energy are the
renewable resource potential, new technologies and also the policy support. Although
some islands have begun the transition to clean energy, most still import petroleum, coal,
and natural gas. Fossil fuel dependence creates a financial and environmental burden on
small islands. As oil prices rise and fall, islands should be encouraged to increase local
production from renewable sources.
Renewable energy installations remain assets for as long as they can harvest free and
clean energy. This transition is sometimes met with resistance, or proposed “for the
future.” Full cost comparisons between fossil fuels and renewable energy should
encourage a more focused and accelerated strategy. Collectively, all island states spend
over $90 million each day for more than 900,000 barrels of oil (price of $100 per barrel),
$108 million at $125 per barrel, and $126 million at $140 per barrel. If this money were
invested in new renewable generation, 72 megawatts of wind capacity could be added
(based on 1 megawatt turbines at $1.5 million each assuming $125 per barrel) or 11
megawatts of solar capacity at a price of $10 per watt. Going forward, investing in
domestic renewables makes more economic and environmental sense over continued
imports of expensive and polluting fossil fuels.
Note: The oil figures were obtained from the “1.2 World Petroleum Consumption,
1980-2005” Department of Energy's list of oil consuming states. Some of the islands in that
list are not included in this report. As well, some of the islands in this report were not