Dominica is on track to be the first climate-resilient nation by 2030
The Government is committed to make Dominica the first climate-resilient nation by 2030 and is working to create favourable conditions for future sustainable investments in renewable energies. As the island most advanced in geothermal explorations, Dominica is already a leader in renewable energy in the Caribbean. The government is seeking to further grow its renewable energy sector by attracting private participation to advance the country’s renewable energy ambitions.
Dominica already has substantial geothermal, solar and wind power capacities making the island an ideal location for energy generation from these resources. Those looking to invest in renewable energy will find a welcoming and supportive environment in Dominica.
Approximately 28% of Dominica’s energy mix comes from hydropower.
High Solar Potential with Photovoltaic Power of Close to 5 KWH per sq. m Per Day 10
Construction of a 10 Megawatt Geothermal Plant
Legislative Framework through the Geothermal Resource Development Bill
Climate Resilient Nation by 2030
Build and maintain modern power systems
As organizations and individuals seek to decrease their carbon footprint, and climate resilience initiatives move forward, the renewable energy industry holds opportunities for those who can build and maintain modern power systems.
The geothermal energy coupled with Dominica’s natural resources such provides an array of possibilities to include but not limited to:
- Paper recycling
- Leather industry
- Milk pasteurization
- Food processing
Retrofitting off-grid solar and wind generators for
- Emergency Shelters
INCENTIVES AND BENEFITS
The Government of Dominica offers a very generous fiscal incentive package for investment in this area. These include a reduction or exemption of import duty and VAT on inputs, along with a reduction in corporation tax.
Financing is also available through AID Bank for installation of renewables in a development.
- Import duty exemption on renewable equipment, machinery, and accessories
- Import duty and VAT exemption on the importation of electric vehicles
- Tax holiday for up to 15 years
- 100% of profit repatriation
- Exemption of Value-Added Tax (VAT) on the importation of capital items up to the commencement of taxable activity
- Exemption from the payment of withholding tax on selected external payments
- Exemption from payment of income tax on profits and dividends during a tax holiday.
- Carrying over of losses incurred during a tax holiday, after the cessation of the tax holiday.