As Islands Grapple with Spiking Fuel Costs, Renewables Offer a More Secure and Affordable Option

Excerpt and Photo from rmi.org

According to the EIA's latest Energy Outlook, island fuel oil costs spiked roughly 33% in just one year, with 2050 projections rising from $0.29 to $0.45/kWh. For a single 50 MW island power system that translates to roughly $34 million more in annual fuel costs. Meanwhile, solar plus battery storage projections declined about 46% to $0.07/kWh, wind plus storage about 40% to $0.06/kWh, and geothermal sits at $0.09/kWh.

The gap between fossil and clean power has never been wider, and for islands reliant on imported tanker-delivered fuel the case for domestic, diversified renewable generation is no longer aspirational, it is fiscal.