{"id":23224,"date":"2018-05-22T13:28:34","date_gmt":"2018-05-22T18:28:34","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=23224"},"modified":"2018-05-22T13:28:34","modified_gmt":"2018-05-22T18:28:34","slug":"regulatory-reform-key-meeting-renewables-targets-panama-says-irena","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/regulatory-reform-key-meeting-renewables-targets-panama-says-irena\/","title":{"rendered":"Regulatory reform is key to meeting renewables targets in Panama says IRENA"},"content":{"rendered":"<p><a href=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2018\/05\/wind-energy.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-23225\" src=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2018\/05\/wind-energy.jpg\" alt=\"\" width=\"661\" height=\"437\" srcset=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2018\/05\/wind-energy.jpg 661w, https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2018\/05\/wind-energy-300x198.jpg 300w\" sizes=\"auto, (max-width: 661px) 100vw, 661px\" \/><\/a><\/p>\n<p>Upgrades to Panama\u2019s regulatory environment and power system management are critical to achieving the renewable energy goals set out in the country\u2019s National Energy Plan according to a report released by the International Renewable Energy Agency (IRENA).<\/p>\n<p>IRENA\u2019s Renewables Readiness Assessment Panama report was launched at a high-level event in Panama City today and presented to the country\u2019s Secretary of Energy, Dr. Victor Urrutia. A central recommendation of the report calls for amendments to the country\u2019s regulation of Power Purchase Agreements (PPAs) for variable renewable energy sources, such as solar and wind. Currently, these renewable energy technologies are attributed a value of zero \u2018firm capacity\u2019 \u2013 the actual amount of energy that a power plant can guarantee to make available under maximum operating conditions \u2013 while thermal power plants and hydropower facilities are rewarded with far higher firm capacity values. This makes solar and wind less competitive in Panama\u2019s wholesale electricity market and can disincentivise investment.<\/p>\n<p>\u201cEnabling policies and attractive regulatory frameworks can drive renewable energy deployment, which in turn can boost low-carbon economic growth and enhance energy security\u201d said IRENA Director-General Adnan Z. Amin. \u201cPanama\u2019s abundant renewable energy resource potential offers the country an opportunity to cost-effectively meet its long-term energy needs and underpin its transition to sustainable energy future.\u201d<\/p>\n<p>Dr. Victor Urrutia, Secretary for Energy for Panama, added that Panama can set a strong example for the Central American region by utilising its potential to generate 70 per cent of its electricity from hydropower, wind and solar resources and that IRENA\u2019s support through this RRA process will facilitate the realisation of this long-term ambition.<\/p>\n<p>Panama\u2019s National Energy Plan is a roadmap that seeks to increase the share of renewables in the power system to 70 per cent by 2050. By the end of 2016, wind and solar power capacity had reached 270 megawatts (MW) and 90 MW respectively.<\/p>\n<p>Increased shares of solar and wind will also require significant flexibility mechanisms in Panama\u2019s evolving electricity network. Combined with updated power system planning and operational practices, these measures can help ensure the reliable integration of variable renewable energy in a cost-effective manner, the report suggests.<\/p>\n<p>The development of a domestic renewable energy workforce is also key to the success of Panama\u2019s renewable energy programme and can bolster the growing solar PV and wind energy markets in the country. The report recommends an examination of the current national workforce in the field of renewables, compared with projected future needs in order to help inform modifications to domestic education and training programmes.<\/p>\n\n<div class=\"wpcf7 no-js\" id=\"wpcf7-f16536-o1\" lang=\"\" dir=\"ltr\" data-wpcf7-id=\"16536\">\n<div class=\"screen-reader-response\"><p role=\"status\" aria-live=\"polite\" aria-atomic=\"true\"><\/p> <ul><\/ul><\/div>\n<form action=\"\/blog\/wp-json\/wp\/v2\/posts\/23224#wpcf7-f16536-o1\" method=\"post\" class=\"wpcf7-form init\" aria-label=\"Contact form\" novalidate=\"novalidate\" data-status=\"init\">\n<fieldset class=\"hidden-fields-container\"><input type=\"hidden\" name=\"_wpcf7\" value=\"16536\" \/><input type=\"hidden\" name=\"_wpcf7_version\" value=\"6.1.6\" \/><input type=\"hidden\" name=\"_wpcf7_locale\" value=\"\" \/><input type=\"hidden\" name=\"_wpcf7_unit_tag\" value=\"wpcf7-f16536-o1\" \/><input type=\"hidden\" name=\"_wpcf7_container_post\" 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