“Chile has been historically characterized as a country heavily dependent on imported fuels and its growing need for energy has been satisfied by burning coal and diesel. This heavy reliance on fossil fuels sparked the interest in quickly developing renewable energy technologies, particularly, from 2013, in solar PV, when the marginal costs of 1 MWh of electricity in Chile pierced US$240.
The need to change the trajectory of ever higher energy prices has led the Chilean government to outline and implement a strategy to attract international capital and revolutionize energy generation in the country.
The most important renewable technologies in the Chilean market are hydro, solar PV and wind. Unlike the growth in the EMEA region, the Chilean growth has been driven by unregulated market, enabled by the above-mentioned high prices of electricity, open and stable economic and political environment as well as dramatic decrease of levelized costs of energy.”
Click here to read more from PV Tech.