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A Bright Future: Solar Power in  Latin America

A Bright Future: Solar Power in Latin America

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Until recently, solar has been a lesser player in the renewable energy revolution, unable to compete with hydro and wind power. Its growth was limited to a handful of (mostly) European markets that were willing to offer some type of financial support for the more expensive technology. In the last few years, however, the global solar market has experienced a boom as installation costs fall to historic lows and new growth markets emerge, most notably in Asia. Latin America remains a minor market for solar, compared to the US, Europe and Asia. The region only this year surpassed the 1GW mark for installed solar capacity - this, within a market that, for all of its recent growth, supplied just 1% of global electricity output during 2014. But these figures obscure a far more interesting story, one that this report explores in detail.

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