Connect with us

Hi, what are you looking for?


Clean Power

Chile Now (Arguably) World’s Top Renewable Energy Market

Owing to Chile’s great renewable energy potential, its current reliance on expensive fossil fuel imports, its energy-intensive mining operations, and its supportive government, the country is now considered by many to be the world’s “top” renewable energy market.

While that exact title may be something that could be argued against (the sizes of the China, US, and Japan markets are much bigger), there’s no denying that the country’s renewables market has a lot going for it — something heavily reflected in the great interest that many major players have been showing in it as of late.


On that note, it’s worth mentioning that the country’s President, Michelle Bachelet, has approved (as of the time of writing this) 76 renewable energy projects just since she took office back on March 11.

Impressive numbers. But ones that certainly make sense when you consider that, even without any subsidies, and without factoring in the environmental costs of fossil fuels or nuclear, solar energy is already cost competitive (at grid parity) there. It actually — apparently — comes in cheaper than the average price ($130 per MW-hour) on Chile’s spot market.

Part of this is down to the country’s reliance on imported fossil fuels (which are quite expensive), and part of it is down to the decreased hydroelectricity production of recent years there — owing to extreme drought.

Sustainnovate provides a bit more:

Mining companies that account for approximate one third of the country’s electricity use are increasingly powering their activities with the use of solar power.

In total, $7 billion is estimated to go into the dozens of renewable energy projects planned in La Roja.


“Chile is our most favorite nation,” stated Pattern Energy Chief Executive Officer Michael Garland in an interview with Bloomberg. “It’s got a good economy, a stable political environment and it’s a bit of an energy island with few indigenous energy resources.”

This was reiterated by the head of Ernst & Young’s renewable energy team, Ben Warren, who stated: “Chile is the market with the highest level of activity in the world.”

For the time being, almost all of the renewable energy development in Chile is solar and wind, but the country also possesses considerable potential for geothermal energy development (137 volcanos). So look to see some of that potential developed sometime within the near future.

For more on this hot renewable energy market, see our Chile archives.

Image Credit: EC-L

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Former Tesla Battery Expert Leading Lyten Into New Lithium-Sulfur Battery Era — Podcast:

I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it! We just don't like paywalls, and so we've decided to ditch ours. Unfortunately, the media business is still a tough, cut-throat business with tiny margins. It's a never-ending Olympic challenge to stay above water or even perhaps — gasp — grow. So ...
If you like what we do and want to support us, please chip in a bit monthly via PayPal or Patreon to help our team do what we do! Thank you!
Written By

James Ayre's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy.


You May Also Like


Gabriel Boric, president of the world’s second largest producer of lithium, Chile, announced on April 20 that the country was adopting a “National Lithium...


The common conception appears to be that a successful transition to electric vehicles is determined by the number of passenger vehicles sold. China, Europe,...


While much of South America is having difficulty with the development of an electric vehicle market, Chile has made significant efforts to deploy EVs....

Clean Power

CleanLight is one of the most exciting clean energy startups in Chile. This renewable energy manufacturing company has used solar generators to power off-grid...

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.