OLADE makes available to the countries of Latin America and the Caribbean, as well as the global energy community, the “ENERGY OUTLOOK FOR LATIN AMERICA AND THE CARIBBEAN 2023,” which compiles energy information from its 27 member countries.
The Energy Outlook is prepared with the official information provided by the member countries, which is consolidated and processed by OLADE’s technical team.
The figures from the Energy Outlook 2023 reflect the region’s commitment to the decarbonization processes of their economies, which are progressing steadily.
Some significant milestones in this regard include:
- The capacity for electricity generation from unconventional renewable energy sources in 2022 increased significantly: wind by 10% and solar by 46%.
- 95% of the new installed capacity in electricity generation in 2022 was renewable.
- In 2022, renewable electricity generation increased by 13%.
- There is still a gap to cover for 16.2 million inhabitants in terms of electricity service coverage.
The report also includes a Prospective Study for the year 2050 in a Net 0 scenario for the region, considering a much faster penetration of renewable energies. For the first time, it incorporates projections for the export of green hydrogen to extra-regional markets, in addition to its incorporation in final consumption in the region.
The following results are highlighted:
- By 2050, the installed capacity in generation will triple.
- An additional 1,000 GW of renewable generation capacity is required, which is double the current installed capacity in the region.
- The total demand for green hydrogen in 2050 will reach 118 Mtep: 33% in the transport sector, 14% in industry, 25% in electricity generation, and the remaining 28% for export.
- By 2050, emissions will have a 32% reduction compared to 2021.
- The increase in final energy consumption by 2050 will be 23%, compared to 52% if the current trend is not modified. This is due to the substitution for more efficient sources and technologies such as electricity, green hydrogen, and solar thermal.
Access the Energy Outlook 2023:
https://www.olade.org/publicaciones/panorama-energetico-de-america-latina-y-el-caribe-2023/
Communications and Institutional
Relations Department
josefa.corral@olade.org
