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Energy Resource Guide
This 2021 edition of the Energy Resource Guide provides in-country market
intelligence from Energy specialists around the world in the oil and gas and
renewable energy sectors.
Costa Rica- Renewable Energy
Take advantage of our market research to plan your
expansion into the Costa Rican renewable energy
market. This guide includes information on:
Current market needs
The competitive landscape,
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Renewable Energy - Costa Rica
Explore oil and gas export opportunities and the
regulatory environment in Costa Rica.
Executive Summary
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Executive Summary
The Costa Rican Institute of Electricity (ICE) holds a
monopoly over electricity distribution and generation in
Costa Rica. There are some exceptions where other public
institutions and co-operatives are authorized by law to
generate and sell electricity. The most relevant exception
is the National Energy and Light Company (CNFL), which
is a subsidiary of ICE. The following exceptions are
entitled to generate, distribute and sell electricity within
the circumscriptions that have been assigned to them by
law. For example: Rural Electrification Cooperatives
(including Coopesantos, Coope Alfaro Ruiz, Coopelesca
and Coopeguanacaste) and Regional Public Service
Entities; ESPH in Heredia province and JASEC in Cartago
province.
Renewable energy in Costa Rica supplied about 98.53%
of the energy output for the entire nation in 2018. In 2014,
99% of its electrical energy was derived from renewable
energy sources, about 80% of which from hydroelectric
power. For the first 75 days of 2015, 100% of its electrical
energy was derived from renewable energy sources and
in mid-2016 that feat was accomplished for 110
consecutive days despite suboptimal weather
conditions. As a country, Costa Rica has a geographic
advantage over others in that its high concentration per
capita of rivers, dams, and volcanoes allow for a high
renewable energy output. In addition, Costa Rica is the
fourth highest nation in terms of rainfall per capita: it
receives an average of 2,926mm of precipitation per year.
As a smaller nation with a population of only 5 million and
no major industry, the need for strong energy
infrastructure is less than for larger countries of higher
population density.
Like wind power, solar power is another newer energy
source in the country. The first solar power projects in the
country were established in 1978 by just a few
researchers from public universities at the Solar Power
Laboratory at the National University.
During 2012, Costa Rica inaugurated the Miravalles Solar
Plant next to the Miravalles Volcano. It was built with the
help of the Japanese International Cooperation Agency
(JICA). The project’s totaling was $11.5 million ($10 million
from JICA and $1.5 million from ICE. This plant of 1MW
only represents 0.03% of all the capacity installed in the
country.
Currently, Costa Rica generates less than 1% of its energy
production using solar power. The rest of the production
is 79% Hydro, 12% Wind and 8% Geothermal. The final
users of solar equipment are found in the
residential, commercial, utility and in a lesser degree off-
grid mostly in the inaccessible mountains and Cocos
Island.
The law authorizes private companies and persons to
generate for auto-consumption without any restriction.
Generation of electricity in order to distribute and sell to
third parties is authorized only when that energy is sold to
ICE at a set price.
Local production of energy equipment is limited to small
products needed for solar panels and water installation,
such as cables, metal tubing, some valves and metal
water tanks. Last year China accounted for 49% of the
market and this year is down to 48%. The US is second
with 23% of the market going up three percent from last
year. Other smaller competitors are Germany (4%),
Singapore (3%), Taiwan (3%), Mexico (3%) and Singapore
(3%). There are also imports of solar products from
Central America, but these are re-exports as most of
these products’ origin is from Asian countries. The US
continues to grow slightly every year, even in a depressed
market that slowed down after new VAT was implemented
and businesses had to deal with this new situation.
Exports from Costa Rica are also of imported products
from other countries. Most companies selling solar
systems are assembled Asian solar panels with some U.S.
made components.
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