Electricity in Panama in 2022

In 2022, Panama's electricity consumption demonstrated a strong reliance on low-carbon energy sources, with more than three-quarters of its electricity coming from this category. Hydropower was the dominant source, contributing a significant portion, close to 70% of the total electricity mix. The remainder of the country's electricity needs were met by fossil fuels, making up just over a fifth at about 22%, with gas being the most prominent fossil fuel source used at 13%. Solar and wind power also played smaller roles, providing around 5% and 4% of the electricity, respectively, highlighting Panama's commitment to sustainable energy practices.

Suggestions

To enhance its low-carbon electricity generation, Panama can look toward countries with similar geographical features, such as Uruguay, which has successfully capitalized on wind power, generating about 36% of its electricity from this source. Similarly, Panama can draw inspiration from countries like Denmark and Ireland, which have achieved significant wind energy shares of 59% and 34%, respectively. Furthermore, investing in solar energy could be beneficial, taking cues from countries such as Chile and Australia, where solar power contributes to around 21% and 19% of their electricity mix. By adopting varied low-carbon strategies like these nations, Panama can further diversify and strengthen its clean energy portfolio.

History

Historically, Panama's low-carbon electricity landscape, particularly hydropower, has seen fluctuations over the years. In the late 1970s and early 1980s, there was a consistent increase, averaging a modest growth of around 0.4 to 0.6 TWh. The late 1990s brought substantial changes, with erratic figures like a downturn of 0.8 TWh in 1998 followed by a significant increase of 1 TWh in 1999. The early 2000s experienced a similar volatility with substantial growth and declines occurring in consecutive years. However, since 2012, Panama has generally observed a positive trend in hydropower generation, with a notable increase in 2020 of 2.3 TWh. This positive trajectory demonstrates Panama's resilience and potential for expanding its clean energy framework further.

Electricity Imports and Exports

Balance of Trade

Data Sources