Solarpower Europe says that the sun sector of Latin -America is at a crucial moment. The latest report offers recommendations on how Argentina, Brazil, Colombia, Mexico and Peru can accelerate their sun growth processes and unlock investments.
Solarpower Europe has published a report in which the chances of solar investments in Argentina, Brazil, Colombia, Mexico and Peru are emphasized.
The report says that each of the five countries offers a concrete argument for investments because of their abundant sun sources, the growing demand for electricity and supporting policy environments. But it adds that these countries share common barriers that influence the implementation of solar energy, including Infrastructure restrictions, inconsistencies in the implementation of the regulations between areas of law and inconsistent access to financing and risk limits.
SolarPower Europe’s report contains tailor -made recommendations for each country aimed at accelerating the implementation of solar energy and unlocking investments. Under the recommendations for Argentina, That currently expands both his utility scale and distributed generation-zonne-Zonne-Zonne, simplifying permit processes, improving the transmission and distribution infrastructure and stimulating the implementation of the battery storage. Work on the latter has already begun an overs described Bess -Tisment.
The association estimates that Argentina will reach 3.5 GW cumulative solar capacity by 2028 and 4.3 GW in 2029, an increase of 1.93 GW from May this year.
Brazil leads solar deployment in Latin -America with a cumulative capacity of more than 60 GW. Solarpower Europe said that by 2029 the country expected the 100 GW mijlpaal.
Although the growth of the solar market market in Brazil is supported by a robust policy, a strong domestic demand and expansion of distributed generation, says Solarpower Europe that challenges remain in the access to the network and allowing inconsistencies. It says that schedule connection procedures for large-scale solar-zonne energy must be made more transparent and more accessible and evokes to standardize rules for environmental permits in Brazilian states.
Solarpower Europe says that the cumulative solar capacity of Columbia reached 2.3 GW in 2024, of which 90% come from projects on utilities. It predicts that the annual solar installations can surpass 2 GW by 2029, driven by improved regulations and increased fame with solar technologies. Colombia has recently been hindered by transmissions, despite the fact that 13 solar farms have already been added to the grid this year.
One of the recommendations for the Solar Market of Columbia is to focus on financing for small and medium-sized solar zon, the strengthening of the bankability of the electricity purchase agreement and the promotion of technology for storage of battery energy.
In Mexico, the growth of the sun is led by the distributed generation, in particular on the roof of solar energy, while the development of utility scale is confronted with net access and policy challenges. Solarpower Europe says that the installed distributed solar capacity of Mexico could reach 8 GW by 2030, equal to an average annual growth rate of 10% during the second half of the decade.
Mexico must give priority to legal securities and accelerate the expansion of the transmission network, according to the SolarPower Europe report. The association also asked to set clear energy goals, and added that without such defined goals for Mexico it will be difficult to assess their growth and to guarantee policy tuning. Last month new rules for self-consumption installations were introduced.
Peru has more than 730 MW of solar capacity in operation. Solarpower Europe says that the country has a hugely untouched potential, with growth that is limited by slow allowing, regulatory uncertainty and weak transmission infrastructure.
The report recommends that Peru is developing its additional service market, improves transmission planning processes and establishes an extensive national energy planning system with a horizon until 2050. It adds that Peru is planning to reach 3 GW cumulative solar capacity towards the end of 2028.
Latin -America has set the goal of achieving a share of 70% of the electricity that is generated from renewable energy sources by 2030. Sonia Dunlop, CEO of the Global Solar Council, said that investment is the key to converting the solar promise of Latin -America into progress.
“By unlocking capital through blended finance, risk reduction tools and clearer market structures, we can scales solar energy where the most needed,” Dunlop said. “A better and prosperous future for countries in Latin -America is not only possible with solar energy -it is driven by it.”
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