New Report Reveals Huge Solar Potential In Latin America

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During the Intersolar South America Digital Xperience, SolarPower Europe’s Emerging Markets Workstream, supported by the Global Solar Council, presented its Latin America Solar Investment Opportunities Report.This report provides a general overview of the business environment and major macroeconomic, demographic, and socio-political trends in key Latin American solar markets: Brazil, Chile, Colombia, and Mexico.

The report highlights the countries’ energy context and relevant stakeholders, as well as the regulatory frameworks for investments in the solar sector. Overall, it reveals the immense potential for the development of solar PV in the region, regardless of the different levels of political support. For each country, a list of recommendations was developed to further unlock this solar potential and improve the market attractiveness for international investors.

Dr. Karsten Schlageter, Managing Director of ABO Wind and Vice-Chair of the SolarPower Europe Emerging Markets Workstream, said: “We are proud to present the 8th report in SolarPower Europe’s market report series. This time it covers four very relevant Latin American markets with a lot of useful details on economic, social, political, and energy
& electricity aspects.”

Dr. Rodrigo Lopes Sauaia, President of Associação Brasileira de Energia Solar Fotovoltaica, said: “Building upon years of fruitful cooperation between SolarPower Europe and ABSOLAR, we are thrilled to join forces in the development of this strategic and objective report about PV in Latin America. As the largest solar PV market in the region, Brazil is one of the leading forces behind the growth of solar PV sector and market in Latin America. ABSOLAR has contributed to the report with expert and on-the-ground knowledge about market opportunities, challenges and the business environment of the country. We invite all PV companies to join us in accelerating the Brazilian solar PV boom that is already under way.”

Walburga Hemetsberger, CEO of SolarPower Europe, said: “The energy transition must be accomplished on a global scale, so I am happy to see the vast solar potential of Latin America highlighted in this new report. It is important now to increase the attractiveness of solar markets across the region by improving the regulatory and financing frameworks.
Solar not only contributes to the decarbonisation of economies, but as the most job-intensive energy technology it can support a full green recovery.”

Also today, the IRENA Coalition for Action’s Business and Investors Group, co-chaired by SolarPower Europe’s Máté Heisz, launched a country paper on Mexico, with recommendations to enable the scaling-up of renewable energy investments. The IRENA Coalition’s recommendations are aligned with SolarPower Europe’s own recommendations presented in the Latin America Solar Investment Opportunities Report.

The IRENA Coalition for Action brings together leading renewable energy players from around the world with the common goal of advancing the uptake of renewable energy. The Coalition facilitates global dialogues between public and private sectors to develop actions to increase the share of renewables in the global energy mix and accelerate the global energy transition. IRENA acts as the Secretariat of the Coalition.

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