Renewable Energy, Latin American Style
11 December 2014
Today there is a lot of attention on increasing pre-2020 ambition. Our host region provides many great examples showing what is possible. The equation is quite simple: more investment in sustainable renewable energy and less money to perverse fossil fuel subsidies equals great benefit to everyone in LAC and the entire world. They are inspiring other countries – both developed and developing – for a path towards 100% renewable energy with sustainable energy access for all by 2050 at the latest.
Brazil’s electricity generation from renewables has almost doubled in ten years. Brazil’s supporting mechanisms – a fixed tariff for electricity fed into the grid and the more recently introduced technology specific auctions – have led to it becoming the region’s renewable energy giant.
Chile has a highly attractive investment environment for renewable energies, due to its policy set-up which includes a Law for Fostering Non-Conventional Renewable Energy.
Costa Rica has decided to go for a target of 100% renewable energy by 2021. That’s an inspiring example for other countries in the region and globally.
Mexico this year passed a Programme on Renewable Energy, setting the goal of 25% electricity coming from renewables before 2018, up from 15% in 2012.
Nicaragua is the renewable energy paradise of Central America, and over the period 2008-2012 had the highest annual growth in Latin America for non-hydro renewable power generation with almost 30%.
Peru, our host country, is planning to use solar energy to provide electricity to 500,000 poor households, and has 10 micro finance institutions that support renewable energy.
Uruguay has the highest share of GDP in renewable energy among Latin American countries, a clearly articulated energy vision, supported by the necessary regulations, which will allow it to reach 100% electrification, 50% share of renewables in the primary energy supply, and 15% power generation from modern renewables by 2015.