Panama capitalizing on opportunities in solar and wind!

In Panama more than 60% of electricity is generated by hydroelectric plants. Insofar the theme „Renewable Energy“ is already well known in Panama.

But there is the opportunity to diversify the generation basis further, especially concerning wind and solar. Panama has good resources available for both.

So the average annual sum of global horizontal irradiance for the central region approaches 5-5,5 KWh per square meter per day, compared to Germany`s less than 3 KWh per square meter per day.

Panama also offers some interesting incentives for an increase of solar energy generation: import of equipment free of sales tax and import duty, 5% tax credit, accelerated depreciation. Finally, the marginal spot price is over US$ 270 per MWh.

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