{"id":159240,"date":"2025-08-28T12:35:36","date_gmt":"2025-08-28T12:35:36","guid":{"rendered":"https:\/\/www.pv-tech.org\/?p=159240"},"modified":"2025-11-13T04:14:14","modified_gmt":"2025-11-13T04:14:14","slug":"latin-american-solar-sector-stands-at-a-pivotal-moment-solarpower-europe","status":"publish","type":"post","link":"https:\/\/www.pv-tech.org\/latin-american-solar-sector-stands-at-a-pivotal-moment-solarpower-europe\/","title":{"rendered":"\u2018Latin American solar sector stands at a pivotal moment\u2019 – SolarPower Europe"},"content":{"rendered":"\n
\"Atlas
A report from SPE mentions that solar PV is becoming increasingly competitive and attractive in Latin America. Image: Atlas Renewable Energy<\/figcaption><\/figure>\n\n\n\n

Latin America has the potential to unlock billions in clean energy investment if it aligns national policies with global sustainability goals and investor expectations.<\/p>\n\n\n\n

This is according to a recent report from trade association SolarPower Europe (SPE). The report, Latin America: Solar Investment Opportunities<\/em>, covers five major countries in the region, including Brazil, Argentina, Colombia, Mexico and Peru and as the title suggests, the investment opportunities in solar PV for the coming years.<\/p>\n\n\n\n

Brazil remains the leading country in the region in solar PV growth with more than 18.9GW of new capacity installed in 2024. For comparison, Colombia and Mexico each added 1.6GW of new solar PV capacity last year, while Argentina added 307MW.<\/p>\n\n\n\n

\u201cArgentina and Brazil, with their vast territories and strong solar irradiance, offer large-scale potential, particularly in underserved and remote regions,\u201d says the report, adding that:<\/p>\n\n\n\n

\u201cColombia and Peru are entering a new phase of energy diversification, where solar energy is being embraced to bolster energy security. Meanwhile, Mexico, with some of the highest solar potential in the world, is cultivating a solar sector that continues to attract both domestic and international capital, despite some regulatory challenges.\u201d<\/p>\n\n\n\n

The report concludes that \u201cLatin America\u2019s solar sector stands at a pivotal moment.\u201d<\/p>\n\n\n\n

Challenges still persist<\/strong><\/h2>\n\n\n\n

However, as solar PV is becoming increasingly competitive and attractive in the five countries, common challenges still persist, according to the report. One of these challenges is related to infrastructure constraints, especially in transmission networks, which was also highlighted earlier this year by analyst Wood Mackenzie<\/a> in a report covering the South American region. The other challenges are inconsistent regulatory implementation across jurisdictions and limited access to financing and risk mitigation tools.<\/p>\n\n\n\n

Among the recommendations aimed at solving these bottlenecks \u2013 the report covers country-specific recommendations \u2013 are the improvement of permitting processes, harmonising regulations to boost the bankability of power purchase agreements and enabling battery energy storage systems (BESS) deployment. Both Brazil<\/a> and Argentina<\/a> have launched tenders for energy storage this year which could help boost the growth of the technology.<\/p>\n\n\n\n

Rodrigo Sauaia, CEO of Brazilian trade association ABSOLAR and Chair of the Global Solar Council, said: \u201cLatin America brings together extremely favourable conditions to accelerate the region\u2019s sustainable energy transition. Countries like Brazil are showing positive signs in this direction, but there is still an important path ahead to consolidate solar power as a strategic driver of Latin American development.\u201d<\/p>\n\n\n\n

For more details on the five countries covered in the report, it can be accessed here<\/a>.<\/p>\n\n\n\n

Brazil to reach 100GW installed solar PV by 2029<\/strong><\/h2>\n\n\n\n

In terms of solar PV, Brazil is without a doubt the leading market in Latin America, and is among the biggest markets globally.<\/p>\n\n\n\n

At the end of July, Brazil add 59GW of solar PV installed, according to data from Brazilian trade association Absolar Forecasts for the coming years could see the country nearly double its installed PV capacity by 2029 with up to 107.6GW, from the report\u2019s most optimistic scenario, and as shown in the chart below. Distributed generation would represent a majority of the capacity additions with nearly 60% of the 107.6GW forecast by 2029.<\/p>\n\n\n\n

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