Venezuela energy storage power

Does Venezuela favor fossil fuel energy instead of renewables?

REVE alerts of its concerns that the Venezuelan government favors fossil fuel energy instead of renewables and has abandoned renewable initiatives, with results which are totally opposite to the incipient interest of renewables development.

Could Venezuela re-open its energy sector?

This ability to sell its oil to a top market once made it one of the richest South American countries, all centered on an oil production of more than 3.4 million barrels per day (bpd). This history could enable Venezuela to re-open its energy sector to the investment world, potentially attracting billions of dollars, if its leadership changes.

How does Venezuela's economic policy affect energy consumption?

Venezuela's restrictive economic policies (Figure 3) have resulted in a decrease in inflation-adjusted GDP per capita, which has led to a decrease in energy consumption (Figure 4). Venezuela has the refining capacity to meet its domestic demand, but the country’s refineries are in poor condition.

Are wind and solar projects competitive in Venezuela?

In general, experts warn that the existing Venezuelan regulatory framework makes wind and solar projects not competitive and this creates additional risks for the development of such energy potential , , . The severity of all such factors evidence the difficulties to develop a sustainable energy sector in Venezuela , .

What is the role of coal in Venezuela's energy mix?

In comparison to oil and natural gas, coal plays a minor role in Venezuela’s energy mix, accounting for 0.2% of total energy production and 0.1% of total energy consumption. Venezuela's coal industry has faced challenges such as outdated infrastructure and limited investment, which has affected production.

Does Venezuela have a micro-hydro energy mix?

The study evaluated the energy provided by micro- or mini-hydro, wind, PV, biomass or hybrid energy in some Latin American countries in 2012 and found that unlike the other nations evaluated, there were no reports of this kind of energies in the Venezuelan energy mix for 2012.