News
Why Clean Energy Keeps Getting a Dirty Deal
Magnetic Media | Editorial Team
Despite record investments, growing public demand, and remarkable technological advances, clean energy is still not winning fast enough. Why? The reasons are more political and structural than scientific. This is a breakdown of what’s really holding back the clean energy revolution—even as the planet cries out for relief.
- Fossil Fuel Subsidies Are Still King
Globally, fossil fuels received over $7 trillion in subsidies in 2023 alone (IMF). That means oil, gas, and coal are still heavily underwritten by governments, keeping their prices artificially low. Clean energy has to compete on a tilted playing field.
Even with solar and wind now cheaper than fossil fuels in most markets, they aren’t winning on price alone because the global economy still props up carbon-heavy industries.
- Grids Weren’t Built for Solar and Wind
Much of the world’s energy infrastructure is outdated and designed around centralized, fossil fuel-based power plants. Renewables are decentralized and intermittent, requiring new, smarter grids.
The IEA estimates that for every dollar spent on renewables, only $0.60 is spent upgrading grid infrastructure. As a result, there’s a growing backlog: solar and wind projects are ready to plug in, but there’s no place to plug them.
- Upfront Costs & Finance Gaps
Solar panels may be cheap, but setting up large-scale renewable projects requires big upfront capital. Developing countries, where the sun shines brightest, often lack access to affordable finance.
Africa, for instance, holds 60% of the world’s best solar resources, but gets just 2% of global clean energy investment.
- The Fossil Fuel Lobby Is Strong and Well-Funded
From legal challenges to PR campaigns, the fossil fuel lobby remains one of the most powerful political forces worldwide. They fund misinformation, push back on regulation, and block clean energy initiatives through litigation and influence. And in many countries, fossil fuel giants are deeply entangled in politics, making meaningful change economically risky and politically unpopular.
- Clean Energy Jobs Are Rising—But So Are Fears
While clean energy now supports nearly 35 million jobs globally, many workers in oil, gas, and coal industries fear losing their livelihoods. Without serious retraining and transition plans, politicians are reluctant to pull the plug on fossil sectors that support entire communities.
Just transitions are slow, complex, and expensive. But avoiding them stalls progress.
- No Global Enforcement = Slow Global Action
Climate goals like those in the Paris Agreement are mostly voluntary. There are no penalties for missing clean energy targets, and no global enforcement mechanisms.
The result? Countries pledge but rarely deliver. Progress is patchy, and ambition often dissolves after an election cycle.
- Clean Tech Access Is Not Equal
Clean energy tech—batteries, solar panels, EV components—is manufactured mostly in a few countries. Developing nations often can’t afford or access it, locking them out of the transition.
Trade barriers, outdated financial risk models, and monopolized supply chains make clean energy a rich nation’s luxury, not a global solution.
Still, There Is Hope
The 2025 UN Climate Address noted that over 90% of new power added last year came from renewables. Solar is now 41% cheaper than fossil fuels, and countries like India, China, and even Texas are seeing massive economic growth from clean energy.
But the transition must speed up—and clean energy must get a fair shot.
That means cutting fossil subsidies, modernizing grids, financing developing nations, and enacting just transition plans.
The future is sun-powered. But only if we stop throwing shade.
Providenciales, Turks and Caicos Islands – Commissioner of Police Fitz Bailey has been recognised for his contribution to national security and the tourism industry, receiving the Distinguished Civic Service Award at the Turks and Caicos Hotel and Tourism Association’s Star Awards held on February 19, 2026 at Beaches Turks and Caicos.
The annual awards ceremony is the premier recognition event for the territory’s hospitality sector, bringing together industry leaders,
executives and frontline professionals to celebrate excellence and the individuals whose work strengthens the destination’s global reputation.
Commissioner Bailey was honoured for his strategic leadership in the fight against crime and the measurable reductions in major offences, efforts widely credited with improving public confidence and reinforcing the Turks and Caicos Islands’ standing as a safe and competitive tourism jurisdiction.
In accepting the award, the Commissioner dedicated the recognition to the officers and staff of the Royal Turks and Caicos Islands Police Force, praising their commitment and professionalism in what he described as a collective national effort to make the islands more secure.
The TCHTA Star Awards spotlight the link between public safety and tourism performance, acknowledging that a stable and safe environment is essential to visitor confidence, investment and the continued growth of the sector.
This year’s ceremony featured high-energy hosting by Super P the Entertainer, with Omega serving as awards announcer, as the industry gathered to honour the people and partnerships that continue to elevate the Turks and Caicos brand.
Providenciales, Turks and Caicos Islands – Friday, 27 February 2026: Her Excellency the Governor, Dileeni Daniel-Selvaratnam, today announced the appointment of Mr. Darius E. Ferguson as a Member of the Integrity Commission Board, serving as the Chartered Accountant Member in accordance with Section 3(2)(a) of the Integrity Commission Ordinance. His appointment is for a period of three (3) years and follows consultation with the President of the Turks and Caicos Islands Society of Professional Accountants.
Mr. Ferguson, with family ties to Providenciales and South Caicos, is a Chartered Accountant with over twenty years of senior leadership
experience across aviation, finance, technology and consultancy, he brings a strong and diverse background in financial governance, regulatory compliance and strategic planning.
A former Chief Financial Officer of Sky Bahamas Airlines for a decade, Mr. Ferguson managed all financial reporting, regulatory engagement, capital projects and commercial development initiatives. He previously served in senior audit roles at both Ernst & Young LLP and PricewaterhouseCoopers LLP, leading high‑risk audit engagements and ensuring adherence to international financial and accounting standards.
Throughout his career, Mr. Ferguson has demonstrated a strong commitment to professional ethics, community leadership and organisational accountability. His experience across corporate governance, financial oversight, and operational risk management will bring valuable strategic insight to the Integrity Commission.
Her Excellency the Governor welcomed the appointment, stating:
“Mr. Ferguson’s extensive background in financial management, auditing and governance, together with his leadership experience across both corporate and community sectors, make him well‑suited to serve on the Integrity Commission. His appointment strengthens our ongoing commitment to integrity, transparency and accountability in public life. I am confident that he will make a meaningful contribution to the Commission’s important work.”
Providenciales, Turks and Caicos Islands – Friday, 27 February 2026: The Informal Settlements Unit (ISU), in collaboration with key government agencies, coordinated a multi-agency enforcement exercise on Thursday, 5 February 2026, at Block and Parcel 60503/17 in the Five Cays area.
The exercise was led by the Planning Department, pursuant to its statutory authority under the Physical Planning Act to address
unauthorised development. The ISU coordinated the operation, with support provided by the Crown Land Unit and the Turks and Caicos Islands Border Force, while the Royal Turks and Caicos Islands Police Force ensured security throughout the activity.
The enforcement action formed part of a Public Private Partnership initiative between the Turks and Caicos Islands Government and private landowners. The registered owners of the land would have sought the state’s assistance to issue copies of Section 58 Enforcement Notices on unlawful structures identified on the parcel. The subject parcel comprises approximately 25 acres extending across Millennium Highway.
During the exercise, a total of fifty-four (54) copies of the Enforcement Notice were issued on structures located on the parcel. Notices were affixed to structures and served on persons found to be occupying illegal developments.
The Informal Settlements Unit reiterates that these coordinated enforcement exercises form part of the Government’s ongoing efforts to uphold planning regulations, protect property rights, and promote orderly and lawful development. Persons undertaking construction are reminded that development without the requisite planning approvals is unlawful and subject to enforcement action.
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