Rapid growth of solar power generation in Latin America

Recently, the European Solar Energy Industry Association released the global market outlook report, which pointed out that in 2021, the installed capacity of photovoltaic power generation in Latin America increased by 9.6 million KW, an increase of 44%. It is expected that, driven by the policy, the solar power market in Latin America will continue to improve in the future. By 2026, the installed capacity of solar power generation in the region will increase by 30.8 million KW per year.

The report also points out that Latin America is expected to be among the top five solar power markets in the world in the next five years. At present, about 25% of the energy supply in Latin America comes from renewable energy, mainly hydropower and biomass power generation. With the increasing demand for emission reduction and economic recovery, the development of photovoltaic has gradually become an important work in the region. Among them, Brazil, Colombia, Chile and other countries regard the development of renewable energy represented by solar power as the main driving force of economic growth, and put forward green plans or related initiatives.