Role of Solar Photovoltaics for a Sustainable Energy System in Puerto Rico in the Context of the Entire Caribbean Featuring the Value of Offshore Floating Systems

The Caribbean and Puerto Rico are lagging in ramping renewable energy (RE) capacities. Energy system transition pathways reaching 100% RE by 2050 for Puerto Rico and the Caribbean are analyzed for all energy supplies. Islands are often limited in available land; therefore, scenario variations are considered, including offshore floating photovoltaics (PV). The results for Puerto Rico clearly indicate the enormous benefits of reaching 100% RE, as the levelized cost of electricity (LCOE) can be reduced from more than 100 €/MWh in 2020 to 47.4 €/MWh in 2050, and the levelized cost of energy, including all energy sectors, declines from 79 to 53 €/MWh, respectively. PV reaches 81% of all electricity supply, leading to 33.4 GW installed capacity, thereof 17.5 GW offshore floating PV due to area limitation. Without area limitation, the total system cost would be about 2.7% lower. The key metrics for the Caribbean development from 2020 to 2050 are as follows: electricity generation from 110 to 677 TWh, PV supply share from 2% to 92%, PV capacity from 1 to 332 GW, thereof 19% prosumer, 81% utility-scale with up to 38% offshore floating PV, and LCOE from above 100 to 31.9 €/MWh. The prosperity of Puerto Rico and the Caribbean is closely related to solar PV, the dominating source of energy in their Solar-to-X Economy.