Latin America
With a power score of 1.91, Panama ranks number 55 among Emerging Markets and number 13 in the Latin America region
Power score
1.91/5
Score over time
2021 - 2024
Panama has a power score of 1.91, which puts it at rank 55 in the Emerging Markets power ranking. In comparison to 2023, Panama has improved in the power rankings by 5 places, from rank 60, to rank 55.
At 1.91, the power score of Panama is worse than than the regional average of 1.93 in the Latin America region and puts it at rank 13 in the region.
Panama implements policies in 4/9 power policy categories tracked by Climatescope, including Renewable energy target, Net metering, Import tax incentives, and VAT incentives.
The average electricity price in Panama has increased from 193.03 USD/MWh in 2022 to 198.67 USD/MWh in 2023. Since 2017, the average electricity price in Panama has fluctuated between 169.13 USD/MWh (2020) and 198.67 USD/MWh (2023).
The top amount of capacity installed in Panama in 2023 was in Large Hydro at 35.81%, down from 38.97% in 2022. The technology with the biggest increase in capacity installed in 2023 was Oil & Diesel at 26.49%, up from 23.93% in 2022.
The top amount of electricity generated in Panama in 2023 was in Large Hydro at 34.65%, down from 55.24% in 2022. The technology with the biggest increase in electricity generated in 2023 was Oil & Diesel at 26.64%, up from 8.49% in 2022.
Investment in clean energy in Panama was around $115.49 million in 2023. Between 2018 and 2023, the highest investment in clean energy was in 2018 at $212.88 million, while the lowest was in 2021 with $25.27 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.