Costa Rica: Many of us want an overview of how much energy our country consumes, where it comes from, and if we''re making progress on decarbonizing our energy mix. This page provides the data for your chosen country across all of the key metrics on this topic.
In support of the region''s energy goals, the report explores the opportunities and challenges that lie ahead. It provides insights on the ways in which the outlook for the region and the biggest global energy trends are deeply intertwined – as well as recommendations on policies that could allow Latin America and the Caribbean to take full
developing areas. Energy self-sufficiency has been defined as total primary energy production divided by total primary energy supply. Energy trade includes all commodities in Chapter 27 of the Harmonised System (HS). Capacity utilisation is calculated as annual generation divided by year-end capacity x 8,760h/year. Avoided
Largest innovative photovoltaic generation and energy storage project opens in Costa Rica. The system uses solar panels to charge batteries during periods of lower energy cost and then, subsequently to deliver stored energy during the two peak periods when cost is highest.
Energy consumption by sector. The sectoral breakdown of a country''s energy demand, which is based on its economy, geography and history, can greatly impact its energy needs and which energy sources it relies on to meet those needs – such as fueling automobiles, heating or cooling homes or running factories.
Finally, despite the commendable efforts on deforestation, the country''s emissions have increased rapidly in the last two decades and could continue to grow in the absence of emission reduction reforms. Costa Rica also remains vulnerable to natural disasters with 78% of the population at high risk from multiple hazards.
These challenges are taking place in a context of broader global considerations including a recent increase in migration levels. The country is also facing perceptions of higher crime levels tied to the drug trade. They present nevertheless an opportunity for Costa Rica to consolidate and preserve some exemplary gains while addressing underlying threats to its development model.
It will be crucial for Costa Rica to undertake measures to promote inclusive growth while continuing its efforts to consolidate an effective fiscal management strategy. The country needs to put in place the conditions for growth to be broad-based, and to fully reach its workforce and territory. Improving revenue mobilization and spending efficiency, especially in the social and infrastructure sectors, will be essential to tackling poverty and inequality, while strengthening climate resilience, reducing emissions, and consolidating the sustainability of its model.
The Country Partnership Framework (CPF) established by the World Bank (WB) and the Government of Costa Rica continues to foster a close partnership based on mutual learning and knowledge sharing in support of the country''s overall growth and development objectives.
A new CPF for the 2024-2028 period was approved by the WB Board of Directors on April 30, 2024. This strategy, which reflects the analytical underpinnings of theSystematic Country Diagnostic Update (June 2023), focusses on promoting broad-based, inclusive economic growth; reinforcing and preserving human capital in key sectors like education and social protection; and enhancing resilience to natural and social shocks and the effects of climate change. All while supporting a transition to a climate-smart economy.
These efforts are underpinned by two cross cutting themes that guide the overall strategy''s implementation. They refer specifically to the aims of strengthening institutions, and to enhancing equity and inclusion across all the various WB interventions. This approach takes into consideration Costa Rica''s evolution as an upper middle income and OECD member country.
As of early October 2024, the active portfolio in Costa Rica includes six operations totaling USD 1231.8 million in net commitments. It includes 4 investment projects (USD 571.82 million) and 2 development policy loans for budgetary support (USD 660 million).
Following the COVID-19 pandemic, the implementation of the Fiscal Management Improvement Project (USD 156.64 million), known as "Hacienda Digital", which supports tax compliance and overall expenditure management capabilities, highlights how the WB has worked in partnership with Costa Rica''s authorities to strengthen the State''s capacity to respond to key challenges and consolidate recovery efforts and set the basis for sustainable growth.
Environmental, climate change, and disaster risk interventions have also been supported through trust funds, such as the Partnership for Carbon Market Readiness (PMR), the Nationally Determined Contribution Just-in-Time (NDC JIT), the Forest Carbon Partnership Facility, the Global Partnership for Sustainable and Resilient Landscapes (ProGreen), and the Global Facility for Disaster Reduction and Recovery (GFDRR).
In addition to these efforts, support was provided to enforce a Sustainability Protocol at the Reventazón Hydroelectric Plant of the Costa Rican Institute of Electricity, an international example that highlights how it can be possible to develop hydroelectric projects while applying the industry''s best environmental and social practices.
Regarding energy and transportation electrification, the World Bank is supporting the initiative to transition towards an energy model that optimizes the use of renewable resources. The aim is to decarbonize top emitting sectors, such as transport, through the progressive electrification and diversification of the energy matrix, in an environment that promotes greater regional integration and the opening of international energy markets.
A series of five informative notes, prepared in collaboration with the CCSS, analyses the factors that drove the success of the project "Strengthening Universal Health Insurance." It describes how challenges were tackled and key lessons learned during the design and implementation, as well as their transformative actions. The series provides a practical guide to other countries interested in implementing similar programs and can be accessed here.
Disaster Risk Management (DRM) programshave further improved Costa Rica''s preparedness to respond to disasters through risk reduction and prevention programs. The regulatory and institutional DRM framework was strengthened with the introduction of a legal framework that requires all new public investments to follow DRM best practices and include a hazards assessment. This enhanced capacity of Costa Rica to implement its DRM program was supported by the WBG''s Catastrophe Deferred Drawdown Option (CAT DDO), which provides a source of immediate liquidity in case of disasters.
In December 2020,Emission Reductions Purchase Agreementsfor US$60 million were signed. In August 2022,Costa Rica became the first country in Latin America and the Caribbean to receive payments from the Forest Carbon Partnership Facility(FCPF), receiving $16.4 million for reducing 3.28 million tons of carbon emissions during 2018 and 2019.
The World Bank also conducts research and analysis in Costa Rica. In recent years, aPoverty and Inequality Assessmentstands out, which contributed to understanding the factors that explain the stagnation of the poverty rate and the increase in inequality in a context of economic growth. The report provides high-level policy recommendations, which have made it possible to prioritize areas for dialogue with the government and other actors in the country.
Other analytical work has included a case study entitled "Primary Health Care Achievements and Challenges within the Framework of the Social Health Insurance," research series on green and inclusive growth, the working paper "A Behavioral Approach to Water Conservation," anda gender landscapepaper showcasing key indicators helpful for monitoring gender equality and designing effective policy interventions.
About Costa rica energy storage economics
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