News

High Hopes as Puerto Rico Gets Ready for 100% Renewable Energy

MFS Construction Solar Caribbean Resilliency

On April 30 and May 1st, Puerto Rico celebrated its first Solar Power Conference, supported by the Solar Energy Industries Association (SEIA) and the Smart Electric Power Alliance (SEPA) in partnership with the local Energy Storage Association of Puerto Rico (SESA-PR). This comes as a result of the island’s recent Energy Public Policy Reform legislation, PS1121, which aims to radically transform the economy of Puerto Rico and advance the Caribbean Island as a leader in Renewable Energy. The new Reform seeks to lay open the path for innovative practices that will solidify Puerto Rico’s resiliency towards environmental hazards and provide a better quality of life for its citizens. The aggressive reform aims to transform the island’s energy intake to 100% renewable energy by 2050.

As part of MFS’ commitment for the development of Puerto Rico, company staff from our regional office attended the event where they had the chance to experience the most recent innovative talks and technologies, especially with special concern in the Caribbean. The event hosted over 400 industry professionals, policy makers, innovators, speakers and exhibitors. Attendees had the opportunity to listen to Governor Ricardo Roselló and local politicians who, in a bi-partisan way, managed to create and make effective the new Act. The event facilitated the space and opportunities for local, nationwide and international guests to connect and discuss the opportunities in the island, what the biggest challenges ahead are and how to overcome them, among many other interesting topics. Talks included funding mechanisms, strategies for implementation, overcoming socioeconomic barriers, micro and macro-economic impacts, and the development of sub-industries, among others. It is highly apparent that the island is making the correct steps toward transforming its economy focused on renewable energy.

There is high expectation, outside investment in to the island seems to be imminent, locals know it is the path forward and it is definitely the next big thing happening for Puerto Rico.

For more information on the event and its speakers, please refer to https://events.solar/puertorico/. If you are interested in the new Act please refer to http://www.aafaf.pr.gov/assets/pr-gov-rossello-signs-public-energy-policy-law.pdf for more information, expected timeline and incentives of the measure.