Arias & Muñoz participated in the most recent event organized by Solar Plaza, taking place in Panama. This event hosted major international and local participants in the energy sector, specifically, those within the solar industry. Key players are especially interested in the development of small-scale, medium-scale and utility-scale Photovoltaics (“PV”) Business Models in Central America.
Due to high solar irradiation and increasing demand, research companies predict that the Central American region will become one of the most attractive Regions on the planet for these kinds of projects. PV projects are an excellent alternative for powering the Region with clean and renewable energy. Players see great opportunities in the finance and development of PV projects; however, they predict that 2016 will not be the best year for PV projects due to a lack of political will.
For Costa Rica in particular, experts have recommended that the country increases its installed solar power capacity to at least 30% and subsequently diversifies its reliance on clean energies so it does not exclusively use hydro power. Currently, Costa Rica is planning to build only one utility-scale solar power project, which makes it unlikely to reach the suggested 30%.
There is no doubt that the region has the necessary resources to develop a strong PV industry, which provides an excellent way to increase power generation capacity and continue promoting the use of renewable energy resources to reach sustainable development.