Energy policy in Ecuador is driven by its need for energy security as a developing country as well as its conservation efforts.[1] Despite past and ongoing attempts to take charge in energy sustainability (as with the now defunct Yasuni-ITT initiative), oil production and exportation still supports its small $5,853 GDP/capita economy at an average of 549,000 barrels/day in 2016.[2] The push and pull between energy independence/nationalism and appeasement of conservationist groups (representing the concerns of environmentalists and indigenous groups) has been evident in the country’s shifting stance on renewable energies and fossil fuels.[1]
Currently, the state is in charge of all domestic activities regarding the refining and distribution of oil and oil products.[3] The state-owned company, Petroecuador, oversees and executes all related operations.[4] The country is also seeing the construction of a new heavy crude refinery compound, operated by Refinery of the Pacific Eloy Alfaro but funded and built by Pertroecuador. Despite Ecuador’s large oil production, its main source of electricity is hydropower -for the year 2015, 13,096 GWh of electricity came from hydropower facilities as opposed to oil's 8,919 GWh.[5] The Ecuadorian government has also passed legislation incentivizing the growth of renewable energy markets; one example of such policy is the feed-in tariff, which is a contract guaranteeing agents investing in renewable technology a competitive return on investment.[6]
^ abEscribano, Gonzalo (2013-06-01). "Ecuador's energy policy mix: Development versus conservation and nationalism with Chinese loans". Energy Policy. 57 (Supplement C): 152–159. doi:10.1016/j.enpol.2013.01.022. Archived from the original on 2019-11-02. Retrieved 2019-10-12.
^"OPEC : Ecuador". www.opec.org. Archived from the original on 2020-03-06. Retrieved 2017-10-10.
^"17 Most Ecologically Diverse Countries On Earth". WorldAtlas. Retrieved 2017-10-10.
^"Misión, Visión y Valores – EP PETROECUADOR". www.eppetroecuador.ec (in Spanish). Archived from the original on 2017-10-31. Retrieved 2017-10-10.
^"IEA - Report". www.iea.org. Archived from the original on 2017-11-30. Retrieved 2017-10-10.
^Jacobs, David; Marzolf, Natacha; Paredes, Juan Roberto; Rickerson, Wilson; Flynn, Hilary; Becker-Birck, Christina; Solano-Peralta, Mauricio (2013-09-01). "Analysis of renewable energy incentives in the Latin America and Caribbean region: The feed-in tariff case". Energy Policy. 60 (Supplement C): 601–610. doi:10.1016/j.enpol.2012.09.024.
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