Renewable energies in Latin America

The countries of Latin America and the Caribbean have cleaner energy matrixes than other regions in the world. This is due to the fact that more than 25 percent of its energy consumption comes from hydroelectricity and biofuels, which places it as the region with the highest presence of renewable energies, as stated in the publication "Energía: una visión sobre los retos y oportunidades en América Latina y el Caribe" (Energy: a view of the challenges and opportunities in Latin America and the Caribbean). 

There is still a great potential of water and geothermal resources to be developed in the region for the generation of electricity, and the incentives are there to do so. The high prices of fossil fuels and the economic and demographic growth demand innovative solutions that satisfy the Latin American increasing demand for energy. 

In addition, the generation of solar and wind-powered energy is starting to take shape as a competitive solution due to the maturity of its technological developments, as it offers economically feasible prices in the presence of the increasing prices of conventional fuels. 

The incorporation of more and better sources of renewable energy to the supply of energy in the region is a way to make the energy systems in the countries sustainable, as it diversifies the energy matrixes and contributes to the reduction of carbon emissions into the environment. In addition, it represents a specific solution to provide energy to rural areas, a pending problem in our region. 

Given the abundance of renewable resources in Latin America, developing its energy potential represents an opportunity to generate high technology developments that may lead to a productive transformation and insertion in the international markets of technological trade.