On Island
How IslandPower enables communities On Island
Island energy systems are typically based on outdated, inefficient and polluting Heavy Fuel Oil power generation and centralised planned grids. This introduces physical energy risks from interruptions in fuel supply, breakdowns in 'too big to fail' power generation and destruction of energy distribution by natural disasters, such as hurricanes.
Islands are often at the end of long and expensive supply chains with high carbon fuel costs at a multiple of global market standards. Whether through subsidies, rationing or other means external sourcing of energy limits economic growth and exposes islands to market volatility and price shocks.
Transition
Mobilising renewable island energy sources and efficient delivery of energy services such as heat/cooling & power are central to energy independence and resilience. However, this conflicts with development finance and funding based on least financial cost and maximum financial profit.
Islands therefore face major barriers in financing transition to a low carbon/low cost infrastructure. IslandPower's organising principle of Least Carbon Fuel Cost is based on the rationale that the more expensive carbon fuel becomes the more profitable it is to save it through smart delivery of zero carbon energy services.
Our energy strategy is to design & deliver distributed micro-grids from the 'ground up' which harness and deliver natural energy sources, thereby creating a dynamic, flexible and resilient Natural Grid.
Our financial strategy is to share the value of energy production and savings with Edge Fund investors using partnership-based agreements which align the interests of communities, investors and developers to a common goal of energy independence
Islands
Island energy systems extend to transportation, telecommunications and agriculture. Stakeholders in design and build of resilient Natural Grids include existing energy utilities (Operational Partners) technology and service providers (Development Partners) providing bespoke systems delivering efficiency and resilience.
So-called 'smart' power generation & distribution technology is often complex, costly, fragile and difficult to maintain. But for delivery of heat/cooling and power as 'least carbon fuel cost' services simple, effective and robust technologies such as heat pumps and energy storage (particularly heat & 'cool') are essential.
IslandPower's technical and legal designs to mitigate the effects of supply-side physical, such as equipment failure or destruction due to natural events and geopolitical financial energy market shocks and volatility.
Antigua & Barbuda
In 2017 the islands of Antigua and Barbuda were severely hit by Hurricane Irma. As a result Barbudans had to vacate their island due to lack of energy and water provision.
IRENA estimates that building out a renewable energy system including transportation will cost of the order of USD $738 million. This level of funding can conventionally only come from largely extractive property development. This requires revision of progressive Barbudan land reform such as the notable Barbuda Land Act of 2007 enshrining common ownership by Barbudans.
IslandPower’s energy-centred legal design enables rapid funding and build-out of renewable infrastructure, directly benefiting the Antiguan and Barbudan communities via energy dividends generated by an Energy Treasury. In this way, urgently needed economic stimulus may be injected without compromising literally foundational Barbudan community land rights or imposing burdensome future property debt obligations.