Report: Latin America's solar market jumped 370% in 2014

Share

Led by large-scale PV installations such as Etrion’s 70 MW project completed in the Atacama Desert late last year, Chile accounted for more than three quarters of Latin America’s total installed PV capacity in 2014.

Mexico was a distant second, installing just 67 MW in 2014, compared to 72 MW a year earlier. “The real opportunity for Mexico lies ahead,” writes GTM Research analyst Adam James in the report, Q4 2014 Latin America PV Playbook. James points to 84% annual growth in Mexico through 2018, with its market reaching a cumulative capacity of 3.3 GW by then.

Brazil ranked third in Latin America but installed only 21 MW, an increase of just 2 MW from 2013, according to the report.

“Next year may improve with the introduction of lower-cost capital from the Brazilian Development bank (BNDES), tax breaks at the national and state level, and increased access to financing for distributed generation,” writes Jones.

GTM Research forecasts Latin America’s annual PV market to grow another 237% in 2015, again led by Chile. The region’s PV project development pipeline exceeds 30 GW, notes the report.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Popular content

Daikin launches air-to-water heat pumps for single-family homes

16 December 2024 Daikin has released a line of residential heat pumps, using propane (R290) as the refrigerant, with outdoor unit dimensions of 1,122 mm x 1,330 mm x 6...

Share

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.