Guyana depends mainly on imported petroleum based products for its energy needs. The use of fossil fuels has been associated with climate change because their combustion releases greenhouse gases at an environmentally harmful rate. This study seeks to strengthen the climate change mitigation efforts in Guyana by reviewing the potential of bioenergy and the effects of its usage on climate change and the country’s economy. The available bioenergy sources including rice husk from rice production, residues from the forestry industry, biodiesel from palm oil, cogeneration of bagasse, bioethanol from the molasses and biogas from cattle manure, sewage sludge, urban and suburban waste are quantified. An estimate of the effects of the utilization on country’s carbon dioxide, particulates and sulphur dioxide emissions was analysed. In addition, an assessment of the effects of their utilization on the country’s fuel expenditure was done. Finally, impediments and opportunities to the utilization of the bioenergy sources are discussed. This study showed that maximizing biofuels will yield at least 31.43% savings annually on the current fuel expenditure. Further, there can be 35.7% carbon dioxide, 32.5% sulphur dioxide, 13.8% carbon monoxide, 9.9% particulates and 4.7% nitrogen oxides eliminated from the environment. This indicates that optimizing bioenergy use can aid in transforming Guyana into a low carbon-based economic model and to forefront the fight against climate change while ensuring energy security. Studies to develop strategies for mitigating the challenges for maximizing biofuels use should be pursued. ______________________________________________________________