This article characterizes the renewable energy potential of Cayo Carenas, an islet at the entrance of Cienfuegos Bay, Cuba. It begins with a concise overview of the case-study community’s geographical and socio-economic context. To assess solar and wind potential, the concepts of Peak Sun Hours (PSH) and Wind Power Density (WPD) are introduced, alongside the most utilized probability distributions in wind energy studies. Solar irradiance and wind speed data, collected at 10-minute intervals throughout one year by an automatic weather station installed near the islet by Cienfuegos Provincial Meteorological Center, are analyzed. Daily PSH and WPD averages are computed, followed by derivation of monthly means for the study period. Frequency histograms for PSH and wind speed are generated. Results confirm exceptional annual averages: solar potential exceeding 5 PSH and wind potential higher than 400 W per square meter WPD. Short-term solar deficits are identified during cloudy/rainy periods, while below-average wind potential occurs from June-September. Weibull and Rayleigh distribution parameters, estimated via Maximum Likelihood Method, effectively model the stochastic behavior of wind speeds.