Energy-intensive industries in Panama include food, tobacco, cement and paper production. Based on SNE (2015), Plan Energético Nacional (2015-2050). 4. COMMERCIAL AND PUBLIC SECTOR: The commercial and public sector is the largest consumer of electricity among the four sectors. Consumption reached 2 816 kboe in 2014 (Figure 5).
Challenge: Planning will remain an important cross-cutting area for Panama’s energy sector, as planners must cope with rising variability and uncertainty from the envisaged high penetration of solar and wind generation through to 2050.
The transport sector includes both cargo and passenger transport, and is the largest consumer in Panama’s total final energy consumption, at around 45% (Figure 3). The number of vehicles on the road in Panama has accelerated in recent years, from 564 155 in 2012 to 718 518 in 2015 (Figure 7).
Panama's National Energy Plan 2015–2050 outlines long-term strategy for the country’s energy sector development, including renewables. The Plan established that 15% of Panama’s generation capacity will come from renewables by 2030 and 50% by 2050.
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.
Consumption reached 2 816 kboe in 2014 (Figure 5). Since 2010, the sector has accounted for about 15% of total final energy consumption in Panama, and its electricity consumption has maintained an annual average growth rate of 6.2% (Figure 9).