Insider Secrets

Insider Secrets

Learn how the PROs are making money from the oil and energy market.

Loading, please wait

New Report Predicts Latin America and Caribbean Solar Markets Set to Boom

By
Posted on Thu, 03 January 2013 22:02 | 0

NPD Solarbuzz, the solar energy market research company has just released a new report about the emerging photovoltaic markets in Latin America and the Caribbean, which it predicts are set to explode, with an annual compound growth rate of 45% over the next few years.

Chris Sunsong, an analyst at NPD Solarbuzz, said that, “historically, PV demand was confined to rural off-grid and niche applications, but new renewable energy policies and incentive programs are now opening up the region for strong PV deployment. Set against a backdrop of strong economic growth, expanding energy demand, and increasing electricity prices, the conditions for PV adoption appear particularly attractive.”

Mexico, Chile, and Brazil, have been estimated to have almost 70% of PV capacity by 2017, as a result of their current renewable energy policies.

Related Article: Solar and Big Oil Join Forces in Middle East

The report also predicted that by the end of last year, energy regulators in Latin America and the Caribbean would have received applications for more than six gigawatts of solar energy projects.

Unfortunately there still remain a variety of technical, economic, and political hurdles that must be overcome before the solar sector can reach its potential in the area.

Sunsong stated that, “PV connection and integration procedures are not yet clearly defined, and there are concerns about grid stability as PV contributions come online. Electricity subsidies in Mexico and low natural gas prices in Peru are also delaying the onset of PV grid-parity for some end-user categories, while import tariffs across the region are keeping PV system costs on the high side.”

By. Joao Peixe of Oilprice.com


Join the discussion

Special Reports

8 Mega Trends

8 Mega Trends

By Oil & Energy Insider Analysts

8 OIL & GAS INDUSTRY MEGA-TRENDS AND HOW TO PROFIT FROM THEM
Here's what our 400 global energy assets are telling us to be prepared for right now...

LNG Technology

LNG Technology

By Oil & Energy Insider Analysts

THE "FLOATING REFINERY" STOCK THAT COULD FUND YOUR RETIREMENT
This company's incredible tanker technology could eliminate many of the world's offshore pipelines...

Subsea Production

Subsea Production

By Oil & Energy Insider Analysts

THE END OF OFFSHORE DRILLING?
This disruptive market will grow 84% to 270% over the next five years: Discover the 6 equipment suppliers set to profit.

Be the first to comment on this article.


Martin tiller