Latin America
With a power score of 2.04, Jamaica ranks number 39 among Emerging Markets and number 10 in the Latin America region
Power score
2.04/5
Score over time
2021 - 2024
Jamaica has a power score of 2.04, which puts it at rank 39 in the Emerging Markets power ranking. In comparison to 2023, Jamaica has improved in the power rankings by 8 places, from rank 47, to rank 39.
At 2.04, the power score of Jamaica is better than than the regional average of 1.93 in the Latin America region and puts it at rank 10 in the region.
Jamaica implements policies in 5/9 power policy categories tracked by Climatescope, including Renewable energy target, Renewable energy auction, Net metering, Priority grid access, and Renewable Energy Certificates.
The average electricity price in Jamaica has dropped from 383.25 USD/MWh in 2022 to 382.97 USD/MWh in 2023. Since 2017, the average electricity price in Jamaica has fluctuated between 382.97 USD/MWh (2023) and 442.47 USD/MWh (2018).
The top amount of capacity installed in Jamaica in 2023 was in Oil & Diesel at 41%, down from 41.63% in 2022. The technology with the biggest increase in capacity installed in 2023 was Utility-scale PV at 5.87%, up from 4.65% in 2022.
The top amount of electricity generated in Jamaica in 2023 was in Natural Gas at 53.38%, up from 51.27% in 2022.
Investment in clean energy in Jamaica was around $ million in 2023. Between 2018 and 2023, the highest investment in clean energy was in 2018 at $64.00 million, while the lowest was in 2021 with $1.83 million.
Which segments of the power sector are open to private participation?
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Are other PPAs (eg. corporate PPAs) signed in or indexed to U.S. Dollars or Euro?
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Can a C&I (Commercial and Industrial) customer sign a long-term contract (PPA) for clean energy?
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Does the government keep the wholesale price of electricity from fossil fuels artificially low through subsidies?
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Does the government significantly increase the wholesale price of electricity from fossil fuel through targeted taxes and/or carbon prices?
For more information on best practices and climate action, explore the NetZero Pathfinders project by BloombergNEF.