Puerto Rico has adopted several new renewable energy initiatives, including signing into law a Renewable Portfolio Standard (RPS) of 15% renewable energy production by 2020 and 20% renewable energy production by 2028.  A Green Energy Fund has been established which will co-invest $290 million in renewable energy projects over the next decade, including a $20 million kickoff in 2011.  With energy prices approximately twice the US average, developing various forms of renewable energy in Puerto Rico makes good sense.  Secretary for Economic Development and Commerce Jose Ramon Perez-Riera stated “renewable energy policies and sound economic incentives are key to attract players of all sizes that can contribute to the creation of a renewable energy industry in Puerto Rico, jumpstart competition and be an active part of the solution.  This can lead to innovation based development and new job creation, while attending concerns over high energy prices and environmental effects of petroleum-based generation emissions.  It is a win-win for all.”  We think so too!  Read the full press release here.