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Abstract
In recent years, renewable energy technologies have been advocated in Fiji on the basis
that they improve energy security and serve as a risk-mitigation measure against oil price
volatility. Despite this, there have been few attempts to measure the impact of renewable
technologies on energy security. That analysis is important if the benefits of renewable
energy technologies in Fiji are to be adequately evaluated. This paper develops and
applies a method for assessing the potential contribution of renewable technologies to the
security of electricity supply in Fiji. The method is based on an application of portfolio
theory, traditionally used in financial markets, to the electricity generation mix in Fiji.
The results demonstrate the impact of different renewable technologies on both portfolio
generation cost and risk for Fijian electricity grids.