Decarbonization and its socio economic impact on oil producing SIDS : a case study of Guyana
Date of Award
11-1-2025
Document Type
Dissertation
Degree Name
Master of Science in Maritime Affairs
Specialization
Maritime Energy Management
Campus
Malmö, Sweden
Country
Guyana
First Advisor
Dong Cheng
Abstract
This study examined the socioeconomic impact of decarbonization of SIDS Guyana. Like most nations, NDC targets were promised as an international obligation to the Paris Agreement addressing the issue of climate change. To carry out this study, research was done on the energy sector of the nation and how transitioning from conventional fossil-fuel generation to renewable energy (RE) of wind, solar and wave would impact the nation’s social, economic and environmental spheres. To arrive at the findings empirical data was reviewed, and an electronic survey was circulated to gather primary data on the nation. To process the data, renewable energy potential was calculated for each source using a mathematical model in Python 3, investments costs and LCOE for each project was calculated using an accounting model in excel, a decision analysis and a socioeconomic impact assessment were conducted to measure the impact on the three spheres. It was discovered that Guyana has strong energy potential for (RE) particularly solar and wind and can facilitate the transition. Socially and economically the nation is positioned for the transition and environmentally has the potential to abate CO2 emissions of 13.3MtCO2 MWh/Yr, surpassing its 2041 targets by 3.3M with wind and solar alone. Additionally, it was discovered that projected RE energy production exceeds their energy demands by 1098% for 2025, 422% for 2030 and 186% for 2041. Recommendations for the reallocation of those excesses were given for the maritime sector.