Is Guatemala a good place to invest in solar energy?

Guatemala is the second largest Central American power market, with a goal to increase renewable energy use. Relatively high levels of solar irradiance and large areas of cleared land give the country a strong potential for increased solar energy development.

Could energy poverty be impacted by energy development goals in Guatemala?

These are costs that could further burden electricity consumers if not managed efficiently. The government of Guatemala – as well as other governments of transitioning economies – can use frameworks like the one introduced here to better understand how electric sector development goals could impact energy poverty in their countries. 6.1.

Does Guatemala have solar energy?

Notably, Guatemala has seen previous ventures into solar energy, including the announcement of a 5 MW photovoltaic project in 2014 and a subsequent tender for a 110 MW project in 2019, which was later cancelled. As of 2023, the country had an installed photovoltaic capacity of 105 MW, according to IRENA statistics.

What is Guatemala's energy source?

This page is part of Global Energy Monitor 's Latin America Energy Portal. In 2018, Guatemala derived 57.43% of its total energy supply from biofuels and waste, followed by oil (29.54%), coal (7.68%), hydro (3.22%), and other renewables such as wind and solar (2.12%).

What impact will energy stress have on Guatemala's economy?

More importantly, we find that the distribution of impacts will not be equal everywhere: households in the western, rural part of Guatemala that are already energy stressed will likely experience the greatest cost burdens because natural resource availability is low while overall poverty is already high.

How much do people spend on energy in Guatemala?

In the urban area around Guatemala City, households spend on average 10–15% of monthly income on energy expenses (including electricity, kerosene, propane, coal, batteries, firewood, and candles). Only in a select few municipalities near Guatemala City center is the Energy Poverty Indicator below 10%.