Renewable energy in Latin America26.01.2017
Latin America is undergoing a transition to renewable energy. The annual Global Trends in Renewable Energy Investment report from 2015 found that worldwide investment in the renewable energy sector between 2004 and 2014 amounted to more than US$2 trillion. In 2014 alone, global investment in renewable power and fuels totalled US$270 billion, with more than half of this occurring in emerging markets and a significant proportion directed to Latin America . This investment is expected to continue as an increasing number of Latin American countries set renewable energy goals and offer financial incentives for project deployment and manufacturing. Furthermore, the demand for electricity will continue to increase rapidly due to the ongoing demographic and socio-economic structural changes in many Latin American countries.
More specific information on sustainbale energy and its opportunities, challenges and legislation in Argentina, Brazil, Central America, Chile, Colombia, Ecuador, Mexico, Peru and Uruguay, click here. Source: Norton Rose Fulbright
Argentina’s first ever solar PV tender - in which more than 900 MW of PV capacity was awarded - have quickly turned the country in one of the hottest solar markets in LATAM. The tone has been set and Argentina is ready to move forward on its successful RenovAr program and solar energy in particular. In this light President Macri also officially declared 2017 'the year of Renewable Energy'. Upcoming developments cover all market segments: tenders in utility scale, corporate PPAs and distributed generation.
On 29 & 30 March the second edition of the Argentinean conference El Futuro Solar Argentina will take place in Buenos Aires. The previous edition brought together 200+ high-level attendees coming from international PV companies, financiers, service providers, Argentina's local industry and government officials. For more information, click here.
Global Renewable Investment bij type of economy 2016
- Developing economies jumped ahead of developed countries for the first time in 2015 in terms of total new renewable energy investment.
- The share of global investment accounted for by developing countries rose from 49% in 2014 to 55% in 2015, with the dollar commitment at $155.9 billion, up from $131.5 billion the previous year. Developed economies invested $130.1 billion, compared to $141.6 billion in 2014.
- Within the developing-economy category, the “big three” of China, India and Brazil saw investment rise 16% to $120.2 billion, while “other developing” economies enjoyed a 30% bounce to $36.1 billion.
- China was by far the largest investing country for renewables excluding large hydro, its $102.9 billion for 2015, up 17%, representing well over a third of the global total. The US was a distant second, with $44.1 billion, up 19%.
- Japan was a clear third in the ranks of investing nations, its $36.2 billion, level with 2014, followed at a distance by the UK with $22.2 billion, up 25%, and India on $10.2 billion, up 22%. Germany recorded $8.5 billion, down 46%, and Brazil $7.1 billion, down 10%.
- Three “new markets” completed the top 10 investors – South Africa up 309% to $4.5 billion, as its auction programme crystallised into financed projects; Mexico doubling to $4 billion, and Chile rising 143% to $3.4 billion