The Latin America Energy Outlook, the International Energy Agency''s first in-depth and comprehensive assessment of Latin America and the Caribbean, builds on decades of collaboration with partners.
The renewables race is accelerating quickly, which means countries that have ramped up efforts like Brazil and Colombia, must remain vigilant while creating large-scale solar and wind projects.
Aligned with global trends, the installed solar photovoltaic capacity in Latin America and the Caribbean has greatly increased in the last decade, surpassing 85 gigawatts in 2024.
The South America Solar Photovoltaic Market has witnessed remarkable growth over the past decade, driven by increasing environmental concerns, supportive government policies, declining solar panel costs, and rising energy consumption.
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The renewables race is accelerating quickly, which means countries that have ramped up efforts like Brazil and Colombia, must remain vigilant while creating large-scale solar and wind projects.
Statistics of InfoLink show Latin America has 24.8-27.4 GW of PV demand in 2023, with Brazil being the largest market followed by countries such as Chile and Mexico.
The Global Energy Monitor, a nonprofit organisation monitoring renewable energy projects, also highlights the progress being made - if all 319 GW of prospective new projects in the region are realised, Latin America would meet and even surpass the International Energy Agency''s 2030 regional net-zero renewable energy goals.
Solar PV will become the most cost-competitive technology in Latin America from 2023, according to Wood Mackenzie''s latest research report, ''Latin America levelized cost of electricity (LCOE)'' which examines the power technology and
Different levels of implementation in solar photovoltaic (PV) facilities have been reached in each country, with the region being a worldwide research and development (R&D) hotspot.
This year, Intersolar South America, Latin America''s largest exhibition and conference for the solar industry focused on the areas of photovoltaics, PV production and solar thermal technologies – with renowned experts sharing insights into these topics.
