Chile's Renewable Energy Surge: From 5% to 18% in Five Years
Chile's renewable energy sector has witnessed remarkable growth. In May 2018, 18% of the country's electricity was generated by renewable sources, a significant increase from just 5% five years ago. This shift has been driven by the country's vast natural resources and supportive government policies.
The cost of renewable energy in Chile has decreased significantly. Energy auctions in 2017 saw prices drop by 75% compared to 2013, averaging at $32.5 MWh. This decline is attributed to the increasing competitiveness of renewable energy sources, particularly solar photovoltaic (PV) power.
The Atacama Desert, renowned for its high solar radiation levels, has been a key driver for solar PV growth. Currently, 8% of Chile's renewable energy comes from solar PV. Additionally, on-shore wind contributes 6%, while biomass and small-hydroelectric plants account for 2% each.
Chile's renewable energy potential is vast, with over 1.865 million MW available for wind, solar, and hydraulic projects. The government's long-term Energy Agenda 2050 is set to further promote and develop these resources. With renewable energy's share tripling in the past five years, Chile continues to solidify its position as a global leader in clean energy transition.
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