The Latin American energy market has largely constituted of hydroelectric dams, natural gas, oil, diesel, and coal. However, this outdated energy mix is fast changing with the increased emphasis on mitigating climate change. Policymakers around the region are spurring clean energy investment through tools like renewable energy portfolio standards, feed-in tariffs, and energy auctions. Numerous Latin American countries and cities have begun transitioning to clean transportation solutions like renewable energy– based electromobility.
According to a report by Expert Market Research, the Latin American renewable energy market is driven by the growth of the global renewable energy space, which reached an installed capacity of over 2455 gigawatts in 2021. The segment is expected to grow at a CAGR of 4.13% between 2023-2028. This significant growth can be attributed to the steady growth in hydro and biomass across the region.
Advanced engineering services in renewable energy have paved the way for turbine blades and adaptable photovoltaic panels for hydro, wind, and solar power generation. Technologies like blockchain and machine learning are enabling utility companies to make datadriven decisions and drive efficiency in renewable energy generation. At the same time, there is increased adoption of bifacial solar panels in Latin American nations like Brazil and Chile.
This edition of Energy Tech Review Latin America delivers a bird’seye view of the recent developments in the renewable energy arena and insights into how organizations are aligning with these trends and adopting lucrative ways to facilitate energy trading and distribution.
We have curated thought leadership articles from industry experts, including the Head of Sustainability and Decarbonization at Ecopetrol and the Vice President of Energy Supply and Resource Development at FortisBC.
We also took a deep dive into the market trends to narrow down the list of companies delivering innovative renewable energy solutions and services. Equipped with robust technological capabilities, companies like Allessolar and Innovacion Solar help transform businesses at the cloverleaf of various disruptive technologies.
We hope this edition of Energy Tech Review Latin America’s renewable energy solution providers and services companies helps you build the partnership you and your organization need to foster an environment driven by efficient technology.
