Guadeloupe Establishes New Regulatory Framework for Financial Institutions
Improving Management of Sector’s Growth
The island of Guadeloupe has taken a significant step towards improving the management of its financial institutions sector by establishing a new regulatory framework. The framework aims to correct unintended effects of previous changes and promote sustainable growth while ensuring environmental protection.
Key Features of the New Framework
- Quarterly Reassessments: Net metering rates will be reassessed quarterly for installations generating less than 100 kW.
- RFPs with Evaluation Criteria: The Energy Regulation Commission will issue requests for proposals (RFPs) with evaluation criteria based on technical specifications, financial feasibility, environmental impact, and innovation.
Strengthening the Solar Photovoltaic Sector
The regional government in Guadeloupe has also taken steps to strengthen the framework for the solar photovoltaic sector. Joint efforts among the regional government, regulatory agencies, and the photovoltaics sector have led to a number of guidelines, including:
- Prioritizing Rooftop Solar Panels: To reduce land use by ground-mounted solar panels.
- Increased Transparency: On conditions for connecting to the electricity grid.
Specific Framework for Solar Photovoltaic Installations
A specific framework was created in Guadeloupe that includes restrictions on solar photovoltaic installations without storage systems, allocation of quotas for power not subject to grid-balancing regulations among three variable renewable energy sources, and the creation of a photovoltaic-wind turbine commission to evaluate ground-mounted solar photovoltaic projects requiring building permits.
Implementation and Results
The regional government has selected projects to be developed in Guadeloupe based on the advice of the commission. In February 2012, three projects were authorized by the region among five ground-mounted solar photovoltaic proposals with storage capability submitted to the Energy Regulation Commission’s RFP. Eight out of ten projects submitted were authorized by the regional government in February 2016, representing 28.57 MW of production.
Only two out of eight projects selected by the Energy Regulation Commission on June 11, 2016 under the non-interconnected zone solar photovoltaic RFP, representing 8.29 MW.
Impact on Financial Institutions Sector
The new regulatory framework is expected to have a significant impact on the financial institutions sector in Guadeloupe, promoting sustainable growth and development while ensuring environmental protection.