IEI-Latin America was commissioned by Procobre's Brazilian Office to carry out a study on the market, technology and outlook to year 2015-2020 of renewable energy for electricity generation in some Latin American countries: Argentina, Brazil, Central America countries, Chile, Colombia, Mexico, Peru, Venezuela. Procobre is part of the Internacional Copper Association (ICA).
The following are the main conclusions that can be drawn from the study:
- Speed : the expansion of RE in the countries analyzed is moving fast;
- Technology: The greatest opportunities are in wind and biomass;
- Countries: (1) Large potential with zero growth: Venezuela, Colombia, Central America; (2) Large potential, fast growth: Brazil, Argentina, Chile and Mexico;
- Policies: there are several legal and regulatory initiatives, but not enough financial incentives and other market mechanisms;
- Regulation: while Brazil has opted to create specific regulation for different RE technologies, Chile has introduced broader RE regulation. It is still early to recommend best model for stimulating RE markets;
- Stakeholders: Project developers are key to consolidate the market for these technologies and there is not enough critical mass of them;
- Impacts: Still to see;
- Drivers: Price of oil, declining costs of technology, environmental concerns (climate change and local pollution), energy security;
The study was published in three languages: Portuguese, English and Spanish. In addition, a webinar in English was presented on May 6, 2011 by the lead author and IEI's Director, Prof. Gilberto Jannuzzi. View the webinar here.