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.

Where can I study energy and Environmental Engineering in Panama?

These include the energy and environmental engineering course ofered by the Technological University of Panama (UTP) at the undergraduate, master’s and doctoral levels, and upcoming degrees at the University of Panama (UP) in electricity and renewable energy engineering.

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 main sources of electricity in Panama?

The largest source in the electricity mix is hydropower, followed by thermal generation (oil products and coal). Wind and solar power came on line in 2013, and by 2016 Panama had 270 MW of installed wind power capacity and 90 MW of installed solar power capacity (SNE, 2015).

Does Panama offer tax incentives for wind & solar energy?

More recently, Panama established tax incentives for wind and solar energy. Law 44 of 2011 created wind-specific auctions, as well as accelerated depreciation on wind equipment and tax exemption for up to 15 years for wind equipment producers based in Panama.

Is there a geothermal project in Panama?

In early 2017, the Technical University of Panama organised its first geothermal expedition to identify possible new sources of geothermal energy in the country (Richter, 2017). Plans were also announced for a possible 5 MW geothermal project in the Chiriquí province that would become the country’s first geothermal generating unit (Richter, 2013).