Guyana, like many CARICOM countries, continues to depend on imported oil that fuels the electricity and transport sectors. Simultaneously, the high level of expenditure on oil reduces the financial resources available to invest in social development, environmental protection, adaptation to climate change and improving food security. The electricity sector in Guyana, in particular, offers significant opportunities for achieving reductions in fossil imports. However, fiscal and regulatory barriers to energy efficiency and renewable energy use are apparent in Guyana. Guyana possesses an abundance of water resources with a potential installed capacity of over 7,000 MW of hydroelectric power.