Solar Technology Grows in Latin America Yang Yao - China Daily
go to original October 12, 2014

Solar photovoltaic (PV) technology is poised to play a substantial role in fulfilling the need for increased power generation capacity across the Latin America and Caribbean (LAC) region, according to a latest industry report.

The total PV project pipeline is growing throughout the region and now exceeds 22 gigawatts (GW) of projects across all phases of development, according to the Emerging PV Markets Report: Latin America & Caribbean.

The report was released on Sep 29 by NPD Solarbuzz, a globally recognized market research-based business focused on the solar energy and photovoltaic industries since 2001.

It predicts that approximately nine GW of projects will be installed in the next five years. One GW of projects are already under construction, and five GW of projects have received approval to proceed and could begin construction soon.

Now, Brazil, Chile and Mexico are stimulating market growth, but opportunities exist across the entire region, the report said.

"Solar PV is now starting to emerge as a preferred energy technology for Latin American and Caribbean countries," said Michael Barker, senior analyst at NPD Solarbuzz. "The region has high electricity prices and it also benefits from strong solar irradiation, which makes it a good candidate for solar PV deployment. As a result, experienced global solar PV developers are seeing strong solar PV growth potential in the region."

Read the rest at China Daily

Photo: Sam Hodgson/Bloomberg

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