Rethinking our Energy Future
Executive Summary (excerpt)
In Latin America, as a result of population growth combined with improvements in quality of life, a 3%
annual growth in economic output is expected during the foreseeable future. This will require the region to almost double its installed power capacity to about 600 GW by 2030, at a cost of close to 430 billion dollars, posing a challenge but also an opportunity to redefine the energy model for the region.
LAC already has a low carbon power sector, anchored through a substantial hydrological resource. However, the anticipated energy demand will require major additions to the existing power matrix. Fortunately, the region could produce over 78 PWh4 from solar, wind, marine, geothermal and biomass energy. The corresponding nominal peak capacity would be about 34 TW5 (world installed capacity is 5 TW) well above any foreseeable demand. The cost of use of these Non-Traditional Renewable Energy Technologies (NRETs) is falling and in some cases is already competitive with fossil alternatives.
- Issues:
- Infrastructure, Energy, Natural Resources
- Regions:
- Caribbean, Latin America
- Year Published:
- 2013
- Authors:
- Walter Vergara, Claudio Alatorre, Leandro Alves
- Institution:
- Inter-American Development Bank (IDB)