The region is advancing in its energy transition, reaching 69% renewability, led by hydropower and solar energy.
The Latin American Energy Organization (OLADE) presents its new Electricity Generation Report in Latin America and the Caribbean (LAC), offering a detailed analysis of the behavior of the electrical system in the region. The report includes data on electricity generation, the share of different energy sources, as well as year-on-year, monthly, and seasonal comparisons.
This edition includes not only data for December 2024, but also a comprehensive analysis of electricity generation throughout the entire year.
In 2024, Latin America and the Caribbean recorded a 5.5% increase in electricity generation, driven mainly by the expansion of wind and solar photovoltaic power plants, as well as a greater share of natural gas in the regional electricity mix.
Breakdown of electricity generation by source in 2024:
- Hydropower: 45%
- Natural gas: 25%
- Wind: 12%
- Solar: 7%
- Bioenergy: 4%
- Coal: 2%
- Nuclear: 2%
- Oil derivatives: 2%
- Geothermal: 1%
Thanks to this diversification, the renewability index — which measures the share of electricity generated from renewable sources — reached a remarkable 69%.
Monthly trends show seasonal patterns:
- August 2023: generation peak of 151 TWh
- May 2024: annual peak generation with 159 TWh
- December 2024: 149 TWh, representing a 1.3% year-on-year increase compared to the same month in 2023
In December 2024, hydropower led with 46% of the generation mix, and total renewable generation reached 109 TWh. The report highlights that around ten countries in the region surpassed 75% renewability, while significant reductions in the use of non-renewable sources were observed:
- Oil derivatives: -62%
- Coal: -49%
This progress reaffirms the region’s commitment to sustainability and energy security, positioning Latin America and the Caribbean as a global leader in the transition to a cleaner and more resilient electricity system.
Download the report at the following link: https://www.olade.org/publicaciones/reporte-de-generacion-electrica-en-america-latina-y-el-caribe/
