Potential investment prospects for Columbia PV Industrial Park

     Colombia has sufficient sunlight resources, with an average daily emissivity of 4.5 kWh per square meter, of which Guajira is the most exposed area of ​​Colombia, with an average daily emissivity of 6 kWh per square meter. However, Solar Panels For Home Cost  photovoltaic power generation accounts for less than 3% of Colombia's national electricity consumption structure. According to data from the International Renewable Energy Agency (IRENA), as of the end of 2019, Colombia's solar installed capacity was only 90MW, and only 4MW was added in 2019.

    In order to encourage private investment and use of renewable energy such as solar energy, the Colombian government promulgated Law No. 1715 in 2014, which provides tax incentives such as income tax reduction, import tariff reduction and value-added tax reduction and exemption for renewable energy investment. In April 2020, according to a register compiled by the Colombian Mining and Energy Planning Department, Colombia currently has approximately 341 solar projects approved or under review. Data show that in Colombia's planned renewable energy assets, solar energy accounts for 68.47%. Colombia is planning to build an 18.38GW clean energy power generation portfolio, of which solar projects will account for 9.48GW.