Short-term forecast of the consumer price index: Analysis of the electricity cost in the Caribbean Coast of Colombia

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Submitted: Oct 21, 2021
Published: Jun 8, 2022
DOI: https://doi.org/10.26620/uniminuto.inventum.17.32.2022.32-41

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[1]
M. M. Herrera, V. A. Cisneros-Sosa, and A. F. Lara-Montañez, “Short-term forecast of the consumer price index: Analysis of the electricity cost in the Caribbean Coast of Colombia”, I, vol. 17, no. 32, pp. 32–41, Jun. 2022.


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Main Article Content

Milton M. Herrera
https://orcid.org/0000-0002-0766-8391
Vanessa Alejandra Cisneros-Sosa
Andrés Fabian Lara-Montañez

Abstract

The Colombian Caribbean Coast is characterized by its favorable conditions for the generation of solar energy. However, they have not yet been exploited in such a way as to allow an adequate energy transition in the country. In this context, the article presents an evaluation of solar energy consumption from two aspects: first, it investigates the profitability of the use of renewable energies applied to the Caribbean region in Colombia. Second, it evaluates through an econometric model the relationship between the implementation of solar energy at the level of consumption demanded by this region, with respect to the per capita income of the Caribbean population. The results show through an econometric model that the payment of this public service will fall on the socioeconomically less favored population. Therefore, this article contributes to understanding the effects of solar energy policies in the Caribbean region of Colombia, which includes a discussion on the limitations of electricity infrastructure in this area of ​​the country.

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