15
February

Photovoltaic Energy spreads in the emerging economies. Focus on Latam countries



photovoltaic-in-the-emerging-economies-focus-on-latam

Photovoltaic energy is growing exponentially in the world thanks to technology and the consequent ever greater ease of installation. It is scalable, reliable and easy to understand for users, differentiating itself from other more expensive and polluting energies. The economically most developed countries in Europe and the United States have relied on renewable energy with a great initial momentum in the past years, but all the trends confirm that today the emerging economies are those most active in favoring the transition to renewable sources for production of clean energy.

A huge advantage that these countries have underestimated for years is that of their favorable geolocation in the areas with the greatest solar irradiance. Countries such as those belonging to North Africa and the Middle East have the highest percentages of solar energy availability in the world. But the world record of solar irradiation lies with Chile, where in the area of the Atacama desert reaches shares of 275W per square meter.

For this reason and beyond, the regions of Latin America are one of the main hubs for the future development of renewable energy and photovoltaics in particular.

Although not all Latin American countries are proceeding with the same pace, for example Venezuela and Bolivia who prefer to continue exploiting their hydrocarbon resources, but the fall in prices and a concurrent increase in demand have resulted in multi-gigawatt pipelines in Chile, Mexico and Brazil.

In light of these developments, the Latin American market is on track to grow exponentially, with a cumulative forecast of 41 gigawatts of PV demand installed between 2016 and 2021.

The entire continent has annual growth rates (on the use of renewable energy) above 4%. and the United Nations Organization reveals that Mexico is the country that invests more in the renewable energy sector with over $ 3,900 million followed by Chile, Uruguay, Honduras and Peru.

Despite being hit by political and economic firestorms last year, Brazil is still expected to command a top-five share of PV demand in Latin America, Chile is currently the leader of cumulative PV installed in Latin America and Mexico has the largest contracted pipeline in the entire region, with over 4 gigawatts of solar contracted out through 2018-2019, with upcoming clean energy targets of 25 percent by 2018, 30 percent by 2021, and 35 percent by 2024.

However, the great development of renewables and photovoltaics in the Latin American regions must still reach levels comparable to those of the major industrialized countries, but a further positive factor in this direction is given by the increasingly careful political guidelines of the various governments that finance with incentives. and ad hoc laws for the development of renewables. By the end of the decade, Latin America will represent 10 percent of global PV demand.

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