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LNG vs Solar – what is the best option for island power markets?

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Summary

Islands around the world continue to burn oil products for power generation. But things are changing. The shale gas revolution is branching out to global LNG markets, reducing the price of LNG relative to oil; and the revolution in renewables and energy storage is making access to low-carbon technologies an increasingly viable option. In this report, we assess the options open to island power markets to displace oil used in power generation, focusing on the levelized cost of electricity (LCOE), as well as each option’s advantages, disadvantages and constraints.   This report has been prepared in conjunction with Wood Mackenzie’s sister company, GTM Research. 

What's included

This report contains

  • Document

    Future power supply options for island power markets.pdf

    PDF 1.97 MB

  • Document

    LNG vs Solar – what is the best option for island power markets?

    PDF 272.97 KB

  • Document

    LNG vs Solar – what is the best option for island power markets?

    ZIP 2.02 MB

Why buy this report?

This study assesses some of the options open to island power markets to displace oil used in power generation, focusing on the levelized cost of electricity (LCOE), as well as each option’s advantages, disadvantages and constraints.

Many island and isolated markets continue to burn oil products for power generation, which historically has been the only option available to markets lacking indigenous fossil fuel resources of their own, but is also an expensive and carbon-intensive means of producing electricity. As a result, end-user electricity prices in island nations are among the highest in the world. However, alternative power supply options for island markets are becoming increasingly viable, both as a means to displace oil and to meet growing demand for electricity.

Some Island Markets Are Already Beginning to Look Beyond Oil for Power Generation. Buy the report to find out more.

Table of Contents

  1. Introduction and key findings
  2. Addressable market size
  3. Modeled system characteristics
  4. Cost assumptions and levelized cost of electricity analysis
  5. LCOE sensitivities
  6. Summary
  7. Appendix

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