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AVOIDING A CRISIS
Ensuring Energy Security in the Caribbean and
Central America
Derek Burling
The University of Wisconsin – Madison

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Preface
About the Author
Derek Burling is a rising senior at the University of Wisconsin – Madison. He is pursuing a B.S.
in Electrical Engineering with certificates in International Engineering and Energy Sustainability
and will be graduating in May of 2017. He spent the 2014-2015 school year participating in an
exchange program, giving him the opportunity to continue his engineering studies in Madrid,
Spain. Derek was also a recipient and scholar of the IEEE Power and Energy Society
Scholarship plus Initiative program since 2013.
About the WISE program
The Washington Internships for Students of Engineering (WISE) program was founded in 1980
through the collaborative efforts of several professional engineering societies to encourage
engineering students to contribute to issues at the intersection of science, technology, and public
policy. The nine-week program allows students to spend the summer in Washington, D.C. to
gain exposure to the legislative and regulatory policy-making process through meetings with
leaders in the Administration, federal agencies, and advocacy groups. For more information
about the WISE program, visit www.wise-intern.org.
About ASTM International
ASTM International, formally known as the American Society for Testing and Materials
(ASTM), is a globally recognized leader in the development of voluntary consensus standards.
Today, some 12,000 ASTM standards are used around the globe in order to ensure high quality
products, enhance safety, facilitate international market access and trade and build consumer
confidence.
Acknowledgments
The author would like to thank all of those who made this project possible. The insight the
author gained was much appreciated and sparked further interest in topics pertaining to
technology and foreign policy. The author would first like to thank all of those involved in the
WISE program, interns included. A special thanks to ASTM International for giving the author
the opportunity to participate in the program and learn more about just how important policy is in
the creation and implementation of innovative technology. The guidance and assistance offered
by Jim and Anthony is especially appreciated and has been a very formative influence for the
author. The author would also like to thank ASTM committee E44 for the resources and insight
given throughout the program. Thank you to all of those who have helped within the State
Department, Department of Energy, the Inter-American Development Bank and more for the
information provided to make this paper possible. Lastly, the author thanks Dr. Kenneth Lutz for
leading the program and ensuring the success of all participating WISE interns.

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Executive Summary
Being among the developing economies of the world, the region encompassing Central
America and the Caribbean and its nearly 85 million residents face various systematic obstacles
in the pursuit of energy secure power systems. As the region has undergone rapid urbanization
and various political reforms, seen dramatic resolution of civil unrest and entered the world
market, its people have proven to be willing to embrace change at rapid rates [1]. Nevertheless,
despite these dramatic improvements, the nations of the Caribbean Basin maintain the highest
costs of electricity, the largest net dependencies on foreign oil and the lowest average GDPs per
capita in the Western Hemisphere [2].
The region’s geographic proximity to the world’s largest proven oil reserve, that of
Venezuela [3], has provided the economic means for rapid development of power systems
centered on petroleum-based energy infrastructure. Accounting for up to 90 percent of
Caribbean and Central American energy profiles, petroleum dominates the market
[4]. PetroCaribe, the petroleum financing program that grants nations of the Caribbean Basin
access to heavily financed Venezuelan oil, has been considered as a great success. However, as
Venezuelan economic and political conditions deteriorate, the future of the program is
unclear. Venezuela’s overpowering influence may result in the loss of the developmental
progress the region has embraced and strived so hard to achieve.
The United States government has begun to recognize the threat outside forces pose to
the Caribbean and Central American community. The writing of legislation and creation of
various initiatives and programs has demonstrated the United States’ commitment to promoting
energy security throughout the Caribbean Basin. However, more must be done. In order to
prevent an energy crisis spreading throughout the Caribbean Basin, the implementation of
advanced energy technology is essential. The United States, the greatest exporter of energy
technologies in the world [5] has the opportunity to assist the region in its quest for energy
security. By promoting environmental energy technology exports, prioritizing regional
development, continuing the advancement of renewable energy technology and assisting in
providing education necessary for the integration of advanced energy technologies, the United
Stated can assist Caribbean and Central America nations secure, clean energy systems for
generations to come.

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Table of Contents
Preface…………………………………………………………..………………….…………………………………1
Executive Summary…………………………………..…………………………………………………….……2
Introduction........................…………………………………………………………………..……..........4
Issue Definition……………………………………………….……………………………………….…………..5
Background……………………………………………………….....................................................8
PetroCaribe………………….…………………………………………………………………………….8
Energy Prices………………………………………………….……………………………………..…12
Advancements in Technology…………………………………………………………………..14
Key Conflicts and Concerns…………………………………………………………………………………16
Education, Regulation and Finances.………………………………………………………..16
Economic Dependence……………………………………………………………………………..18
Policy Recommendations……………………………………………………………………………………20
Conclusion………………………………………………………………………………………………………….22
Works Cited………………………………………………………………………………………………………..23

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Introduction
The International Energy Agency (IEA) defines energy security as, “The uninterrupted
availability to affordable energy sources” [6]. Energy security is a main concern for developing
regions and emerging economies. Stability in, and easier access to, energy in developing nations
is crucial to sustainable economic development. While the developed nations of the
Organization of Economic Co-operation and Development (OECD) see energy security
pertaining more to self-sufficiency, independence and the transition to renewable and sustainable
energy sources, a developing economy’s take is much more basic. The focus on equity and
distribution of energy, or providing every household access to electricity, is fundamental in the
foundation of a prosperous economy and allows long-lasting future growth [7].
Geopolitical disputes, natural disasters, oil prices and other international events neither
controllable nor foreseeable drastically affect the energy economics of any given nation.
Initiatives across many OECD nations including the United States demonstrate the international
effort to mitigate these negative effects worldwide. A White House press release published in
2011 describes the United States’ own energy security initiative, elaborating on just how
important renewable energy sources will be in future American electricity generation. By
committing to replace one third of oil imports with renewable energy technology before the year
2025, the United States demonstrates its determination to strive for energy independence through
the use of alternative sources of energy [8]. Other OECD nations around the world also place
strong importance on the incorporation of renewables in their quest for energy independent
power systems, demonstrating the up-and-coming potential of clean-energy technologies and the
international movement they have generated.
Emerging economies have the luxury of learning from the developed world’s mistakes
and capitalizing on current advances in technology. Standards, created to unify industry and
promote trade, give a firm foundation for the implementation of advanced infrastructure systems.
Developing nations are given the chance to engage in legal Memorandums of Understanding, or
MOUs, with the international standards body ASTM International. This provides communities
with ASTM standards free of charge, as long as a notification of usage is given to ASTM. In
addition, the current proactive international movement offers a plethora of international interest
and expertise. The effort for nations to achieve both energy equity and energy diversification
through renewable systems is timely. By utilizing presented opportunities, it’s possible for the
developing world to skip the age of fossil fuels and leapfrog to the era of renewables.

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Issue Definition
Being among the developing economies of the world, the region encompassing Central
America and the Caribbean and its nearly 85 million residents face various systematic obstacles
in the pursuit of energy secure power systems. These countries include Nicaragua, Honduras,
Cuba, Guatemala, Dominican Republic, Haiti, Belize, El Salvador, The Bahamas, Jamaica,
Dominica, Saint Lucia, Antigua and Barbuda, Barbados, Saint Vincent and the Grenadines,
Grenada and Saint Kitts and Nevis (See map below [9]). As the region has undergone rapid
urbanization and various political reforms, seen dramatic resolution of civil unrest and entered
the world market, its people have proven to be willing to embrace change at rapid rates
[1]. Nevertheless, despite these dramatic improvements, the nations of the Caribbean Basin
maintain the highest costs of electricity, the largest net dependencies on foreign oil and the
lowest average GDPs per capita in the Western Hemisphere [2].
Figure 1: Map of the Caribbean Basin [9]
Attaining energy security has always been difficult for the developing world and Central
American and Caribbean nations are no exception, facing unique challenges. The region’s
geographic proximity to the world’s largest proven oil reserve, that of Venezuela [3], has
provided the economic means to rapid development of power systems centered on petroleum-
based energy infrastructure. Accounting for up to 90 percent of energy profiles, petroleum
dominates these markets [4]. Data collected by the IEA, shown in Figure 2 [10] on the page 6,
demonstrates just how dependent these nations are on oil as fuel for generating electricity.

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Figure 2: The Electricity Generation profiles of the Dominican Republic, Honduras, Nicaragua, Haiti, Cuba and Jamaica.
In contrast, the United States’ electricity generation profile, figure 2 [10] on page 7, is
comprised of various fuels and sources. Although most power sources used in United States are
not low carbon or domestically produced [10], there are reasons why oil, the least used, accounts
for less than 1 percent of nationwide electricity generation fuel sources. This is mainly due to
the various disadvantages that come with the use of petroleum as a generator of electricity. The
production of electricity by means of burning oil is among the most inefficient methods of power
production known [11]. This inefficiency can be seen in an economic, environmental and
political scope. As shown by Figure 3, the United States has been able to steer away from such
oil based electricity production over time; however, the Caribbean Basin still struggles with oil
dependency.

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Figure 3: The Electricity Generation Profile of the United States
Years of regional dependency has also contributed to a lack of energy diversity in the
Central American-Caribbean region. These mono-fuel energy systems are extremely vulnerable
to external economic and geopolitical conditions, putting the national security of Central
American and Caribbean nations at risk. Forecasters predict that if the trends in oil prices
continue, major fiscal and humanitarian crises will fall upon the region within the next decade
[12]. Diversifying the region’s energy sources will ensure the safety of millions and provide cost
effective energy alternatives.
As the worldwide demand for renewable energy grows, in turn grows the United States’
role as a provider of these self-sustaining technologies. American industry has stated its interests
in the emerging Latin American and Caribbean markets. With today’s trends of increasing
economic globalization, the need for sustainable energy sources grows. The International Trade
Administration (ITA) has made it clear that the United States Government should be placing a
larger focus on the development of Latin American and Caribbean markets. United States
exports are expected to capture greater shares of these import markets, especially in energy
technologies [5]. The ITA predicts the U.S. to have up to three times as much influence in the
region’s energy industry than what it does on the worldwide market. This type of export growth
comes with a plethora of benefits to the American economy. Among the most desired by the
American public is the growth of jobs within the industry. The private sector and the American

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public are invested in the development of their southern neighbors, and in turn, the future of
renewable energy technology.
United States foreign policy, among the strongest international political presences in the
world, is designed to promote the best interests of the American people. These interests include
national security and domestic well-being. However, they also include the American citizens’
desire to utilize their economic prowess in order to assist those in need. This national
compassion has been exemplified in the creation of the United States Agency in International
Development (USAID) and participation in other international developmental programs and
councils. After White House, Department of State and Department of Energy discussions stating
an interest in the situation, it is clear that the United States government is also ready to join the
‘power struggle’ in Central America and the Caribbean and assist in managing the multinational
efforts.
With a brief dip in oil prices, along with the geopolitical climate, the United States has
been given a window of opportunity. The purpose of this paper is to analyze the current Central
American and Caribbean energy condition and provide policy recommendations that would
allow the United States to effectively take advantage of the situational ‘perfect storm’ and
prevent a large-scale, multifaceted crisis, bringing a secure, clean energy future to the region.
Background
PetroCaribe
In today’s energy market, many developing and developed nations on Earth needs oil in
order to continue growth and maintain a level of comfort and prosperity. Nations possessing oil
reserves within their borders are members of the Organization of Petroleum Exporting Countries
(OPEC) and are given an implied sense of responsibility and power. This skewed distribution of
power is especially prevalent in the Central American and Caribbean region. Although these
nations do not have direct access to large oil reserves, regional proximity to Venezuela, the fifth
largest exporter of oil in the world and the owner of the world’s largest proven oil reserve [14],
has proven to be a short-term solution for the region’s growing energy demands [13].
On June 29th, 2005, Venezuela launched the PetroCaribe program with thirteen
Caribbean countries. Today, seventeen nations are technically members of the PetroCaribe
agreement. Thirteen of these countries--Antigua and Barbuda, Belize, Dominica, Dominican
Republic, El Salvador, Grenada, Guyana, Haiti, Jamaica, Nicaragua, St. Kitts and Nevis, St.
Vincent and Grenadines and Suriname--are active members. Cuba is also an official member of
PetroCaribe; however, a previously-set bilateral agreement between the island nation and
Venezuela, the Convenio Integral de Cooperación Cuba-Venezuela (CIC), serves as the primary

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energy and trade agreement [13]. Both the PetroCaribe and CIC agreements have created strong
ties between the nations of the Caribbean Basin and Venezuela, proving to be quite beneficial to
the energy markets of the region.
In essence, the PetroCaribe program provides generous credit financing for recipient
states to purchase Venezuelan crude oil or other petroleum products. A sliding-scale financing
mechanism based on the total market price determines the required up-front payments, which are
based on Venezuelan benchmark oil prices and are due thirty to ninety days after purchase. The
remainder, financed by Venezuela, typically has a grace period of about one to two years, after
which is paid off over a twenty-five year period with an interest rate of about 1-2 percent. These
agreement terms are designed to dampen the effects of the fiscal shocks that come with volatile
oil market prices [13]. Figures 4 [13] and 5 below display how the financial mechanism
functions.
Figure 4: Sliding scale financial mechanism portrayed through pie charts showing the percentages each party pays
dependent on international oil prices. As the international oil prices rise, the percentage that PetroCaribe member
pay as a down payment goes down.

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Figure 5: The sliding scale financial mechanism portrayed as a line plot showing exactly how much each party pays per
barrel dependent on international oil prices. As depicted, as the international oil prices increase, the percentage that
the PetroCaribe members pay as a down payment goes down. It is designed so high international oil prices are not as
costly to PetroCaribe members.
The governments of the recipient states of the PetroCaribe program end up reducing their
overall spending by cutting large portions of budget funds originally meant for the purchase of
petroleum. These saved monies are ideally meant for investment into national projects that would
promote future economic prosperity to ensure the repayment of financed Venezuelan oil. In
practice, however, the funds tend to be saved or reallocated to budget support [13].
Venezuela created the financial program in order to assist its neighbors in need
throughout the Caribbean Basin. The years building up to the agreement were prosperous ones
for the region. The impressive regional development brought increased prosperity and
integration to the global market. As part of this development electrification also increased and
household access to electricity became more widespread [1]. Generally, the electrification of the
Caribbean Basin’s states provided the region with economic stability. However, the high oil
prices of the mid- 2000s put these states into fiscal predicaments. Venezuela, the only large
energy exporter on the Caribbean Sea, found this as an opportunity to assist the surrounding
nations [15].
PetroCaribe has proven to be a diplomatic success for Venezuela. Claimed as one of
Hugo Chavez’s greatest accomplishments as Venezuelan president, the financial program is
viewed positively among the Venezuelan people and citizens of the PetroCaribe member states
[16]. However, such energy agreements and regional praise come with a price. The CIC and
PetroCaribe programs cost the Venezuelan government in excess of $3 billion per year, a figure
0
20
40
60
80
100
120
0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160
AmountPaid(U.S.Dollars)
Price per Barrel (U.S. Dollars)
PetroCaribe Financing Financed by Venezuela
PetroCaribe member Down Payment

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that has only been growing since the initiatives’ inceptions [13]. While this number may pale in
comparison of the country’s estimated $28 billion in domestic energy subsidies, the currency
used in this initiative is now wanted for in other
Venezuelan industries. For example, some speculate
that these funds would be useful in addressing the
nation’s current food supply shortages. Concentrating
the workforce solely on oil production has resulted in a
shortage of farmers who actually tend the crops. This
has created a need to import everything that is not
petroleum based. With a lack of currency, partially due
to the financing of the PetroCaribe and CIC programs,
the nation must barter for basic goods. Venezuelan
citizens wait in day-long lines for daily necessities
such as rice, toilet paper, diapers, and coffee, much of
which is of poor quality [17]. A lack of hard currency
also has contributed to the nation’s hyperinflation rate.
With an inflation rate of 69 percent in December of
2014, and a rate of up to 200 percent in May of 2015,
Venezuela’s currency, the Bolivar, is decreasing in
value quickly [18].
According to the U.S. Department of State’s
Bureau of Consular Affairs, crime in Caracas and the
interior of the nation is pervasive. With Venezuela’s
per-capita murder rate ranked in the top five in the
world, the US State Department placed a travel
warning on the country in December of 2014,
advising U.S. citizens to avoid travel to Venezuela
[19]. With a rise in the national murder rate from 79 to 82 per 100,000 people between the years
of 2013 and 2014 living conditions have deteriorated and the fabric of the Venezuelan society is
collapsing [20].
Many experts are attributing the drastic downward trends in Venezuela to the falling of
oil prices that began in the second half of 2014 [22]. Accounting for 95 percent of Venezuelan
exports, 50 percent of governmental revenue and 25 percent of the national GDP, it is clear as to
why such a dramatic drop in oil prices would so negatively affect the Venezuelan economy and
society [14]. The current low oil pricing trends are predicted to continue for many months, if not
years, leaving the future of Venezuela uncertain [22].
Due to the political, economic and societal turmoil taking place in the founding nation
of PetroCaribe, Venezuelan leaders have begun to reassess the generous credit terms originally
Figure 6: The Bolivar, the currency of Venezuela,
has the highest inflation rate of the world [20]. The
diagram above shows just how Venezuelan GDP,
consumer spending, consumer prices and
unemployment are intertwined with the downturn
of the Bolivar [21].

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offered by the program. Reports as early as the first half of 2014 have shown that the country is
seeking to mitigate the costs of the program by tightening credit terms. These terms include
raising interest rates from 1-2 to 3-4 percent and shortening credit repayment periods from
twenty-five years to fifteen years [13].
After years of receiving financed petroleum products, debt owed to Venezuela by many
of the Caribbean and Central American nations as a percentage of their respective GDPs range
from 10-20 percent. Recipient states have no other option but to comply with Venezuelan
demands due to the extreme economic and energy dependencies they have on Venezuelan oil
[13]. With a lack of affordable energy alternatives and economic flexibility, PetroCaribe
remains strong. Without outside intervention, Venezuelan societal turmoil will accompany its oil
exports and arrive on the shores of every PetroCaribe recipient state.
Energy Prices
A fundamental aspect of any growing economy is its access to power and electricity. Not
only must there be access to such necessities, but this access needs to be affordable and reliable.
This idea complies with the IEA’s definition of energy security and its importance to any
economy, developed or emerging. The Caribbean, however, faces serious economic obstacles
due to the inability to fulfill these requirements.
Energy prices are among the many variables
that contribute to the growth, or lack thereof, in an
economy. An ITA publication released in 2012
suggested that high energy prices have an inverse
relation to the exports of an economy. Using the
United States export market between the years 2002
and 2008 as a case study, the report found that the
US exports fell $11.5 billion per year short of
projected export sales due to the rise in energy
prices within this time period [23].
High electricity prices affect more than just
industry. In regions throughout the Caribbean that
are plagued by high energy prices, consumers,
especially those of low to middle class, are paying
up to 35 percent of their income on electricity [24].
Figure 7 [25] shows just how high these electricity
rates, or tariffs, are in the Caribbean region.
Florida, the region of the United States most
geographically similar to the Caribbean islands, has
Figure 7: The average retail electricity tariffs of the eastern
Caribbean islands. The average electricity tariff in the
Continental United States is about 10.13 cents per kWh as
compared to the 33 cent per kWh average in the Caribbean.

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electricity prices around one third that of its island neighbors [26]. The average electricity tariff
in the Continental United States is about 10.13 cents per kWh as compared to the 33 cent per
kWh average in the Caribbean.
The tourism industry is among the strongest
revenue sources of the Caribbean Basin. Large hotels
and resorts are designed to create relaxing and
luxurious environment; however, because these
establishments were not originally designed for
energy-efficiency, up to 50 percent of the operating
costs for these structures go to energy [26]. This
critical sector to the Caribbean economy is hindered
by the steep electricity prices that the grid has to offer.
This is a clear example of how electricity prices
directly affect the economic capabilities of the
Caribbean Basin.
Many attribute the high electricity tariffs to the
region’s dependency on oil as an energy source
coupled with its net energy dependence, or its
minimal energy export vs. large energy import.
Figure 8 shows just how dependent these power
systems are on the energy exports of other nations.
Even with the benefits that the PetroCaribe program
offers, electricity prices remain high throughout the
Caribbean. This unusual phenomenon has been
attributed, in part, to the geography of the region.
Islands, especially island nations, have always had troubles with energy prices due to the general
lack of access to domestic fuel sources. However, with advances in renewable energy
technology and its economic feasibility, this trend is beginning to change. Among the most
successful island communities in changing its own energy outlook is the state of Hawaii,
effectively lowering its average electricity tariffs through an elaborate yet concise energy
transformation. With aggressive implementations of renewable energy technologies throughout
the chain of islands, prices in electricity have come down to an average of 25 cents per kWh in
2015, compared to its previous average of about 34 cents per kWh in 2014 [28]. Hawaii and
various other island nations around the world have demonstrated that island sustainability is not
only possible, but a financially lucrative economic investment for any island community.
Energy consumption and efficiency awareness initiatives are growing throughout the
Caribbean Basin. An example of these initiatives is the Eastern Caribbean Energy Labeling
Project (ECELP). Projects like the ECELP do not require complicated government involvement
Figure 8: Net oil exports as a percentage of the respective
nation’s GDP. A majority of Latin American and Caribbean
nations have a large net energy and oil dependency, meaning
their oil imports far outweigh their oil exports.

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and help the region reduce CO2 emissions while lowering electricity bills. This, however, is one
of many changes that need to take place in the Caribbean Basin to reduce energy costs.
Advancements in Technology
Accounting for 45 percent of new energy projects worldwide and heavily concentrated in
OECD non-member countries, renewable energy technology has clearly become a forefront
contributor to international development [29]. The implementation of renewable energy would
prove extremely beneficial to the Caribbean and Central American energy infrastructure. The
inefficiency of the oil-based system and the island nature of the Caribbean Basin have
contributed to the region’s extremely high electricity prices and continued dependence on
Venezuela. By embracing the advancements in renewable power generation, the Caribbean
Basin has the opportunity to revolutionize utility electricity generation and provide citizens much
more affordable energy.
Critics of current alternative energy projects point out that due to the current lull in oil
prices, investments in such projects would be diverging from other conducive economic
investments or debt repayments. Although it is true that within the last 18 months, oil prices
have fallen approximately 50 percent, renewable technologies have experienced even more
substantial cost reductions. The price of solar photovoltaic panels, for examples, has fallen 70
percent within the same period of time [15]. Due to the furthering of investments and R&D
funding, the IEA predicts that cost-efficiency of renewable energy sources as compared to oil
will only become more pronounced [29].
Innovation, the result of an economy’s drive confronted with societal dilemma, is what
advances society, technology and prosperity. As the use of innovative technology becomes
widespread, the use of standards, or international codes and guidelines, becomes crucial in
ensuring optimal implementation of the new products. ASTM International and its members
have recognized the importance of renewable energy and the critical role it will play in the future
generation of electricity. ASTM Committee E44 specifically addresses such areas including
solar thermal generation, solar photovoltaic panel technology, geothermal stations and many
others [30]. The power generation standards created by committee E44 are designed to optimize
the efficiency of their pertaining energy technology and ensure its long lasting productivity, even
in extreme climates. An example of one of these standards is ASTM International standard
E1171. E1171 provides useful guidelines to assess solar photovoltaic panel performance in
varying humidity and temperature environments [31]. Standards like E1171 are of the utmost
importance to international investors and the implementation of the panels worldwide. As the
technology continues to advance, the integration of such standards will become more
prevalent. In fact, Caribbean and Central American nations can utilize the standards created by

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the United States in order to further advance the renewable energy systems within the Caribbean
Basin.
The multifaceted, alternative energy sector provides various energy options with the
potential to convert a variety of natural resources into electricity. Energy from the sun, wind,
ocean and earth is now being harnessed in ways never seen before. Solar photovoltaic panels
have seen efficiencies of up to 20 percent, a percentage that continues to increase [15]. Solar
thermal applications have been expanded with the integration of salt heat transfer fluid and
multi-tower systems, driving down costs by 10-20 percent. The research and investment in tidal
energy has integrated the large untouched energy source into the grid. The use of lighter carbon
fibers in the blades of wind turbines has allowed turbine movement at lower wind speeds,
effectively capturing more energy from the resource [32]. Among the most important is the
advancement of energy storage. The emergence of Tesla’s ‘Power Wall’ home battery unit has
opened the minds of millions, providing a vision of how power storage may function in the
future. Industrial applications of the ‘Power Wall’, heat energy storage technology and the
utilization of cost-cutting Quinone, an easy to make, reactive, organic compound, provide
exciting possible answers to the renewable industry’s toughest challenge, the storage of
electricity [32].
Various incentive programs have been created within the United States that promote the
use and advancement of renewable energy. The most effective incentive methods are the use of
production and investment tax credits. These credits make it much more appealing to buy and
use alternative energy products. The most prevalent of these credits is the Solar Investment Tax
Credit. The program gives a 30 percent tax credit for solar systems on residential and
commercial properties. Since its creation in 2006, the investment tax credit has contributed to
the solar industry’s 1,600 percent domestic growth, creating a massive influx of jobs [33]. This
boom in the industry has generated a lot of capital which has been reinvested into the technology
for research and development, thus improving the technology and bringing down prices. As
prices continue to fall, the interests in developing nations will begin to rise. The lower the price,
the more affordable the technology is and the more likely a foreign nation will investigate
implementation on their own soil. The sales of renewable energy technology abroad will only
add to the cyclical effect and the trend will continue.
The Caribbean Basin will endure some of the most negative effects of climate change.
Being a region that is so extremely energy dependent on inefficient fossil based liquid fuel, a
change in ways is imperative in order to prevent further harm. Only by integrating and
embracing current advancements in renewable energy technology will the region succeed in
attaining energy security and ensure a cleaner Caribbean for decades to come.
The integration of alternative energy sources is not only crucial in protecting the
environment, but is also becoming more economically competitive by the day. While oil prices

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remain in a short term lull, it is important to acknowledge that the resource is volatile, and its
future uncertain. On the other hand, alternatives have proven to remain on predicted price
trajectories. In regions like the Caribbean and Central America, stability is a necessary asset.
Development in these economies is only maximized with stable, sustainable growth.
Alternatives will play a crucial role in the assurance of the region’s economic stability and
environmental protection.
Key Conflicts and Concerns
Education, Regulation and Finances
Within the last ten years, the United States has attempted to reestablish relations with
Latin America and the Caribbean. Communities around the world are beginning to globalize and
international trade and business are becoming more important. The United States finds
cooperation throughout Latin America and Caribbean nations as well as the United States and
Canada crucial in the Western Hemisphere’s movement to unify in the development of its
people. The general interest of the United States in this matter has been demonstrated on
multiple accounts. The Obama administration’s creation of the 100,000 Strong Initiative is a
prime example. The initiative’s purpose is to promote the exchange of 100,000 Latin American
students to American universities and vise-versa. The rapid globalization of the 21st century will
require professionals who are ready for a worldwide workforce and international cooperation
[34].
The Obama Administration is not alone in the quest for a more unified, prosperous
Western Hemisphere. Months after the creation of the PetroCaribe program, many members of
Congress foresaw the possible flaws the program presented. As a countermeasure, Senator
Richard Lugar introduced bill S.2435 to the 109th
Senate of the United States. The bill, called the
Energy Diplomacy and Security Act of 2006, was designed to ensure the protection of delicate
power systems throughout the Western Hemisphere. Through the creation of emergency action
plans, a hemisphere energy cooperation forum and a hemisphere energy industry group, this bill
demonstrates the determination of the United States for a better hemisphere [35]. Despite its
potential to promote the energy markets of the Western Hemisphere, the bill, however, did not
make it off the Senate floor and was never reintroduced. Due to the lack of advancement in
renewable technology at that time and the housing crisis of 2008 not too long after, the timing of
the bill’s introduction was far from perfect. Fragments of the bill’s intent, however, have lived on
within various sectors of the United States government. The bill has sparked the creation of the
Bureau of Energy Resources within the State Department and think tanks like the Lugar Center,
a bipartisan platform for an informed debate on global issues.

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The International Trade Administration and the Environmental Protection Agency (EPA)
came together in October of 2012 and started the Environmental Export Initiative [36]. Similar to
objectives stated in the Energy Diplomacy and Security Act of 2006, the initiative’s goal is to
promote the exporting of American environmental energy technologies. Since the initiative’s
creation, thorough assessments have been written about various nations around the globe. The
assessments, or Environmental Export Market Plans (EEMPs), give American energy technology
exporters a comprehensive economic and environmental report on nations of interest and how
American products can be maximized in the given system. The series has proven extremely
successful, giving American industry an advantage and generating jobs and capital in recipient
countries as well.
The Caribbean Energy Security Initiative (CESI), another creation based on the Energy
Diplomacy and Security Act of 2006, is a joint operation comprised of the United States
Department of State, the Obama Administration, the Department of Energy, the Overseas Private
Investment Corporation (OPIC) and USAID. Led by Vice President Biden, the initiative’s goal
is to promote energy security in the Caribbean Basin. The first-ever Caribbean Energy Security
Summit took place in Washington, DC on January, 26th of 2015. The summit brought together
finance, government and private sector leaders from the United States and the Caribbean, as well
as representatives of the international community in order to promote a cleaner, renewable and
secure energy future for the Caribbean Basin [37].
The summit included an important discussion section that was meant to define the roles
of CESI and the intended goals of the initiative. CESI laid out its main focuses in a way that
easily portrays some of the struggles the movement faces in transitioning the region to a diverse
and sustainable energy portfolio. Below are CESI’s three main points of focus:
1) Regulation Framework: History has shown that in order for energy reforms to be
effective, policies and regulations must be fair, concise and, especially,
transparent. According to the World Bank Group’s ‘Doing Business’ Ranking,
which takes the economies of the world and ranks them on their ease of doing
business, Caribbean and Central American nations mostly fall between 85- to
130- out of 189 [38]. Not only are the region’s economies and set regulations not
as welcoming to business, but are also among the smallest economies of the
world. In the power sector, both the ‘Doing Business’ Ranking and economic
size play major roles in selecting where an energy technologies industry is most
likely to thrive.
2) Finance: The investors that have gone and attempted to bring large sustainability
projects to the region have had many difficulties with finances. One of the
reasons why PetroCaribe is so successful is because it plays on the fact that the
region’s economy does not have a strong financial foundation. This has caused

19. - - 18 - -
most private investment projects to fall through at the last minute [39]. In order to
ensure strong financial foundations, loan agreements and MOU’s must be created
with nations of the region to cover the up-front costs of large, alternative energy
projects.
3) Coordination: Many developmental organizations from around the world have an
interest in the Caribbean Basin. Each finds the region as a hopeful prospect that
will embrace the challenges of renewable energy and demonstrate to the world
that a renewable energy based system is sustainable and, overall, profitable. Each
donor, however, has a specific agenda in the development of the region. This
incoherent series of donations and projects is not conducive to constant,
progressive growth. Projects must be seen from beginning to end in order to
achieve optimal success [39].
The CESI program, though still young, has already demonstrated its determination in
moving the Caribbean Basin energy portfolio toward stable, diversified generating sources. The
Department of Energy, the State Department, OPIC and the Obama Administration coordinated
efforts within CESI and joined Jamaican leaders in the island’s fight for strong development. A
loan of $60 million was given to the Jamaican government, along with the necessary expertise, in
order to create a 20 megawatt utility solar plant. The solar plant will be the biggest of its kind in
the Caribbean, demonstrating the United States’ commitment to engaging with Caribbean and
Central American nations by providing assistance in developmental struggles [40]. The CESI
program, an example of United States determination, will help provide the Caribbean Basin with
energy alternatives and become a stable, outside, friendly force.
Economic Dependence
In the short-term, economic prosperity appears to be present in Central America and the
Caribbean. Being a net energy importing region dependent on petroleum products, the downturn
in oil prices has had a fairly positive effect on these emerging economies [41]. In both sub
regions, oil accounts for approximately 90 percent of primary energy needs, more than twice the
world average [4]. Particularly dependent on oil imports are the manufacture and industry
sectors, especially those of the Dominican Republic, Cuba, Jamaica and Nicaragua. These
industries not only bring in export revenue to their respective countries, but also provide the
community with countless jobs and stability [13].
The PetroCaribe program is the main contributor to the prosperity and dependency of
these sectors. At international oil market prices, these manufacturing plants would be operating
at a net loss. Similar plants around the world have had to change energy sources in order to keep
operating costs low and boost efficiency. This trend, however, has not taken place throughout
the Caribbean Basin. The seemingly endless financial support coming from the PetroCaribe

20. - - 19 - -
program has shielded industry in the region from nearly half of the potential operating costs,
providing a lack of incentives to change habits [13].
Of the roughly 85 million people that live throughout the Caribbean and Central America,
30 million reside in Cuba, Nicaragua, Jamaica and the Dominican Republic, comprising about 35
percent of the region [42]. That being said, Nicaragua, Jamaica and the Dominican Republic,
recipient states of the PetroCaribe program, receive 80,000 of the 120,000 barrels shipped by the
program per day, or 66 percent. Cuba alone, under the CIC, receives 90,000 barrels of crude oil
per day [13]. With so much petroleum being imported into these countries, it is necessary that
each has its own series of refineries. These refineries, too, bring countless jobs to the countries
that operate them. The oil powered engines of these industries are large contributors to the
economic growth in the Caribbean Basin.
Cuba, just 90 miles south of the Florida Keys and the Caribbean's largest island, both in
population and in acres, has been considered one of the United States’ greatest enemies. With
historic economic sanctions, American travel restrictions and other ties with the U.S. severed; the
country has been crippled by its inability to have any kind of contact with its northern neighbor
and economic powerhouse. Due to economic isolation, oil has played an especially important
role in the island nation’s development.
Each country has specific exports that comprise large portions of their national GDP and
are powered by Venezuelan oil; in Jamaica, the alumina production industry, in the Dominican
Republic, sugar processing and gold and silver production, in Cuba, nickel production, and in
Nicaragua, the textile industry. All of these nations also have one major industry that would
generally not function without the region's access to cheap oil, and that is the tourism industry
[42]. The tourism sector has played a large role as to why these economies have been so
prosperous in recent years. With the United States economy on the rise once again, American
tourists have the available funds to spend time on Caribbean white sandy beaches and in the
beautiful climate. As stated earlier in this report, approximately 50 percent of hotel and resort
operation costs are on electricity, which is generated from fossil based liquid fuel sources
The multi-sector dependence on oil in the Central American and Caribbean economies is
a risky economic decision. Although current oil prices are relatively low and the region is in a
temporary state of economic stability, the danger lurks that strong outside forces may fluctuate
and send the region into a tailspin. Among these dangers is the Venezuelan economic crisis
caused by high inflation rates, scarcity of food and mass unemployment. The Venezuelan crisis
may directly affect all PetroCaribe recipient states, as well as Cuba. The problems that would
arise in Jamaica, Cuba, the Dominican Republic and Nicaragua would be much more complex
than those that smaller PetroCaribe states would face. The rise of oil prices due to the
disappearance of the financial program would mean the various refineries and manufacturing
plants of these four nations would have to close, leaving many jobless in already competitive job

21. - - 20 - -
markets. The system has lacked incentives to convert sooner, but now, when oil prices are low
and prosperity is plentiful, is when good foresight and preparation are most needed. As Vice
President Biden stated in his address to the Caribbean Energy Security Summit earlier this year,
“It is best to fix the roof when it is sunny.” [13].
Policy Recommendations
Although there are nations and regions of the Caribbean that are under direct U.S.
control, specifically Puerto Rico and the U.S. Virgin Islands, the U.S. is just another outside
force whose advice may or may not be considered. The CESI program and other U.S. acts have
broken the ice, showing the goals stated are attainable and that teamwork is crucial. The
continued effort of the United States government is more important now than it ever has been.
Venezuela’s strong presence in the Caribbean Basin is deteriorating, leaving room for the United
States to offer guidance in the construction of energy infrastructure and policy. With the aim of
aiding the structuring of this task, this report provides a set of policy recommendations designed
to demonstrate American initiative and promote Caribbean growth. Through trade, aid,
education and more, the United States can help the region achieve success and become energy
independent.
1) “Environmental Export Market Plan” Series to include all nations of the Caribbean
Basin
The ITA and EPA must expand the EEMP series to include all Caribbean and Central
American nations mentioned in this paper. By providing the private sector the resources
with which it can succeed, American industry is able to capitalize on the emerging
markets of the Caribbean Basin. The influx of U.S. industry will provide a strong
foundation for the economies of the region, thus promoting further cooperation between
the two. As trade increases, an increase in jobs is experienced by exporting and
importing parties. Jobs created within the energy technology industry of the United
States promote further growth within the industry while the jobs created in the importing
nation promote stability and the strengthening of the regional economy. Creation of the
EEMP Caribbean and Central American edition and private sector involvement is
essential in the quest for energy security and prosperity within the Caribbean Basin.
2) To prioritize/continue focus on Caribbean and Central American development
The promotion of development will bring higher economic prosperity, thus giving the
region the investment capital which can be used toward energy technologies, specifically
those of the United States. Projects like the U.S. – Jamaican solar plant agreement must

22. - - 21 - -
continue to be offered to the region in order to promote development and give the region
the resources to grow.
3) Congress to continue and renew production and investment tax credits
The renewal of the Solar Investment Tax Credit is essential to the continuing of the
investment-R&D cycle. Production and investment tax credits in wind, geothermal and
fuel cell technologies must also be renewed or reinstated in order to ensure the
advancement of the respective technology. Congress has the opportunity, before
December of 2016, to renew the Solar Investment Tax Credit and continue the growth
and opportunities the solar industry has presented since the investment tax credit’s
inception. It is clear that tax programs like the SITC are effective and promote the use
and advancement of environmental energy technology. Congress must utilize this
opportunity to show the American public and the world that the United States
government is invested in the advancement of alternative energy, combatting climate
change and promoting energy security worldwide.
4) Expand incentive packages within the “100,000 Strong” Initiative
In order to promote strong energy infrastructure throughout the hemisphere, the State
Department, Department of Education and Obama administration must come together
and create more incentives for Caribbean and Central American students to come to the
U.S. to receive an education in power systems, electrical engineering, sustainable
development or other related fields. Providing scholarship opportunities, creating
specialized grants and unifying universities between the U.S. and the Caribbean Basin are
all great examples of incentive programs designed for this purpose. By strengthening
education, the U.S. is also helping strengthen the region’s future.
5) Plan for Cuban inclusion
United States officials must include Cuba in all relations with the region that is within
current legal bounds. By the ITA creating the nation an EEMP, including Cuban markets
in negotiations, the State Department and USAID fore planning Cuban development and
the country’s inclusion in the 100,000 Strong initiative, the country will be ready for
globalization when Congress lifts the embargo and relations are normalized once again.
Such actions send a message to all Latin American and Caribbean nations stating that the
United States is truly invested in hemispheric development. Displays of dedication like
these are what help open relations between the region and the United States and promote
future interaction between the two.

23. - - 22 - -
6) Establish a conjoint effort to create an emergency action plan
The future of the PetroCaribe program is uncertain and could crumble at any minute. The
current Secretary of State John Kerry has voiced his concerns on the unsustainable
financing mechanism of the program as well. It is imperative that an emergency action
plan be created in order to be prepared for the chance that the Venezuelan economy
crumbles to the point of no return, bringing the PetroCaribe program down with it thus
causing a mass humanitarian crises in the near neighborhood of the United States. The
Department of State, USAID and the Department of Energy must work together to
prepare for such an event. A report or fact sheet must then be created to inform Congress
and prepare lawmakers for the worst case scenario. Preparation is crucial in delicate
international relations, and the United States must keep ahead in order to maintain order
and peace in the region.
Conclusion
The promotion of energy security, an initiative advocated by the International Energy
Agency and other international organizations, is especially important to the Caribbean and
Central America. The region’s prosperous times have been often attributed to the generosity of
of the PetroCaribe program and the recent fall in oil prices. However, due to the current
economic and political turmoil in the program’s sponsor nation, Venezuela, the future of the
system is uncertain and thus unsustainable. In order to prevent widespread economic collapse
from spreading throughout the Caribbean Basin, the implementation of advanced energy
technology is essential. The United States, the greatest exporter of energy technologies in the
world, has the opportunity to assist the region in its quest for energy security. By providing these
nations the assistance, advice, education and resources necessary for the integration of advanced
energy technologies, the region is given the opportunity to secure a clean, sustainable energy
system for generations to come.

24. - - 23 - -
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