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.

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 is the future of energy in Guatemala?

Competition with the possibility of developing cheaper energy sources, such as: hydropower & natural gas. The Guatemalan government has a plan of using geothermal power to supply for two thirds of the country’s energy needs by 2022 . Thus reducing oil imports and stabilizing the country’s energy supply .

What is energy security in Guatemala?

Within that context, energy security is to be defined with accordance to to the electricity supply, taking into account needs and objectives of the country's energy policy . The key aspects of the energy security perspective in Guatemala are: adequacy, resilience and sovereignty .

Can geothermal power be used in Guatemala?

The Guatemalan government has a plan of using geothermal power to supply for two thirds of the country’s energy needs by 2022 . Thus reducing oil imports and stabilizing the country’s energy supply . Crude oil production in Guatemala has high potential, with estimations suggesting the possibility of reaching 50000 barrels/day .

How much wind power does Guatemala have?

Guatemala's Ministry of Energy and Mines (MEM) used to estimate wind energy potential in the country as high as 7000MW, while much more conservative opinions consider the economically viable wind potential in the country is somewhere between 400-700MW .