Re-Energizing Suriname with Less Energy

Author(s): Daniel A. Lachman

Energy intensity can be dropped without harming the economy through energy reduction. Actually, the economy could grow while reducing energy use, if the economy’s base is transformed into knowledge-based industries (those with so-called increasing returns). Such a transition in itself provides opportunities for learning, skill and knowledge creation, network building, etc., and involves education and research institutes, small, medium and large business, industries and trade networks and proactive Government departments. Subsequently, businesses erected due to and during the transition towards an energy-efficient economy could export their products and services, thereby contributing further to the nation’s economy. This has been explored for Suriname using a top-down approach (ACEEE 2015 International Self-Scoring Tool) and bottom-up approaches to quantify reduction opportunities in each sector. Results show that reduced energy usage directly and indirectly amounts to US$ 194,188,398.10, with an investment of US$ 29.55 million. Furthermore, 274 jobs can be created by transitioning to an energy-efficient economy with an export market size of US$ 34 billion (based on gap analyses). However, this requires a dramatic shift in strategic direction, policy frameworks for energy and other fields. However, the investment can add to GDP and can transform the economy into one with increasing returns.