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Modelling Long-Run Energy Development Plans: The Case of Barbados

Winston Moore, Mika Korkeakoski, Jyrki Luukkanen, Laron Alleyne, Abdullahi Abdulkadri, Noel Brown, Therese Chambers, Orlando Costa, Alecia Evans, Sidonia McKenzie, Dwight Reid and Luis Vazquez Seisdedos

No 9403, EcoMod2016 from EcoMod

Abstract: Barbados spends approximately seven percent of annual gross domestic product (GDP) on imported fuel, a significant amount in a foreign exchange constrained economy. In addition, to the foreign exchange burden of imported fuel, the relatively high cost of electricity is a major constraint impacting on the external competitiveness of local businesses. This paper therefore contributes to the literature building a disaggregated model of the island’s long run energy development that accounts for both supply-side energy features as well as demand-side changes, particularly in relation to energy efficiency. It is expected that the study would be able to identify any potential shortfalls in future energy supply under various scenarios of economic development.

Keywords: Barbados; Energy and environmental policy; Impact and scenario analysis (search for similar items in EconPapers)
Date: 2016-07-04
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