What challenges do solar and wind companies face in Panama?

Despite abundant renewable energy resources, solar and wind companies in Panama face economic challenges, given that the current power market model is based on conventional sources such as thermal and hydropower generation and does not recognise the unique operating characteristics of variable renewable energy (VRE) generation.

Does Panama have solar power?

Since 2014, investments in solar and wind energy have grown markedly. Today, more than two-thirds of Panama’s electricity generation comes from clean sources, primarily through the contribution of hydropower. The country also has the largest wind farm in the region, and solar power generation – although still modest – has begun to take of rapidly.

What are the challenges facing Panama's energy sector?

Challenge: Planning will remain an important cross-cutting area for Panama’s energy sector, as planners must cope with rising variability and uncertainty from the envisaged high penetration of solar and wind generation through to 2050.

How does Panama rely on fossil fuels?

Panama depends heavily on fossil fuels, which have historically accounted for roughly two-thirds of total primary energy supply. The country’s transport sector has until recently relied almost entirely on oil and oil products.

Will Panama's solar thermal plan save the world?

When fully implemented, Panama’s National Solar Thermal Plan will prevent the release of 2.4 million tonnes of carbon dioxide and save Panamanians more than US$110 million annually on fossil fuel bills. Solar powered rooftop heaters are providing hot water for students and staff at the Hato Chami school in northern Panama. Photo: UNEP

Are floating solar panels a Panama Canal Green Project?

Panama Today (2017), “Floating solar panels: a Panama Canal green project”, 25 November 2017, www. panamatoday.com/panama/floating-solar-panels-panama-canal-green-project-5836 (accessed 12 December 2017).