Grenada, like many Small Island Developing States (SIDS), is particularly vulnerable to the impacts of climate change and yet is still heavily dependent on expensive fossil fuel imports to meets its energy needs including the generation of electricity. In particular, the high cost of oil imports has resulted in the relatively high price of electricity, goods and services in the country. Consequently, decreasing the amount of electricity and fossil fuel used can provide significant financial benefits to consumers while playing a central role in tackling the climate crisis through the reduction of greenhouse gas emissions.
Overall, improving energy efficiency and conservation through proper energy management practices can positively impact the Grenadian economy by generating energy and money savings which can bolster the country’s energy security and can deliver financial benefits to public budgets. In this regard, the Government of Grenada, through its policies and programmes has prioritised energy efficiency and conservation in various sectors of the Grenadian economy including strengthening the capacity of the commercial and industrial sectors.
Grenada’s economy is relatively diversified, with several sectors making tangible contributions to GDP annually including the commercial and industrial sectors. In particular, the commercial and industrial sectors consume approximately 52% of Grenada's energy generation. Recognising that energy is an inevitable cost of doing business, there are several advantages to improving the energy efficiency in the commercial and industrial sectors. Through an energy audit and implementation of energy efficiency and energy management practices, business can significantly lower their operating costs and improve health and safety conditions by identifying opportunities to reduce energy consumption and increase energy efficiency. Furthermore, the implementation of energy efficiency measures can reduce the environmental impacts of a business which is increasingly attractive for environmentally sustainable consumers and tourists.
Recognizing the challenges that SIDS are facing with their natural environment being vulnerable to climate change impacts and with heavy dependence on fossil fuels with high price volatility, the International Renewable Energy Agency (IRENA) through the SIDS Lighthouses Initiative (LHI) is providing support to SIDS energy transition through the uptake of renewables and energy efficiency and in collaboration with the NDC Partnership through the Climate Action Enhanced Package (CAEP) and the Government of Grenada have developed a Capacity Building Programme for Energy Management and Energy Audits.
This event was the fourth segment of Grenada’s Capacity Building Programme which aimed to strengthen the capacity of relevant stakeholders to conduct energy audits to better understand and manage energy consumption. In this two-day webinar which targeted the commercial and industrial sectors, participants learnt about:
- The principles of energy use, including the importance of energy efficiency and conservation and its contribution to addressing climate change and sustainable development
- The factors that impact electricity rates in Grenada and components of the electricity bill
- How to conduct an energy audit and manage electricity consumption through a range of energy conservation measures and best practices in various sectors
Event was closed, by invitation only.