Connect with us

Hi, what are you looking for?

CleanTechnica

Clean Power

Latin America Brought Record 363 MW Of Utility-Scale Solar Online In Q2’15

Latin America brought a record 363 MW of new utility-scale solar online in the second quarter of 2015, with project construction up 61% year-over-year.

These are the primary findings from GTM Research’s Q2 2015 Latin America PV Playbook, published today, which revealed both new-online and construction figures were up, 80% and 61% respectively.

In the second quarter, Latin America brought a total of 363 MW of newly operational utility-scale solar PV online — the largest quarter ever in the history of the Latin America utility-scale solar market. And while a number of countries are worth mentioning for their impact on this figure, the northern country of Honduras outdistanced them all, installing a whopping 307 MW across 7 separate projects in the quarter. GTM Research placed Honduras’ bonus tariff of 10% over the marginal cost for projects connected by the end of July as the primary reason for this significant installation figure.

Following well behind was the usually dominant Chile, with 29 MW brought online in the second quarter. Chile is one of the most attractive markets in both Latin America and South America consideration. Research and consulting firm GlobalData recently released a report which named Chile as having the fastest increase in renewable development between 2015 and 2017, and predicting the country’s installed capacity will rise from 1.06 GW in 2013 to 5.37 GW installed by the end of 2017.

Panama and Brazil followed in third and fourth place, installing 12 MW and 11 MW respectively in the second quarter, whereas GTM Research also noted that Venezuela and Antigua both connected their first utility-scale solar PV plants in the quarter as well.

New construction for the second quarter was also up, with 981 MW of utility-scale solar PV entering the construction phase. The majority of the construction is, unsurprisingly, taking place in Chile, but Mexico is currently in the process of constructing 54 MW of solar, while Jamaica has 20 MW.

Looking forward, GTM Research predicts that utility-scale solar PV will make up 92% of Latin America’s forecasted 2.3 GW of solar installations in 2015.

“Commercial users tend to pay the highest retail electricity rates in almost every Latin American country,” says Senior Solar Analyst Adam James. “With its attractive prices and easier access to capital, the market will grow quickly from its small base today.”

Separately, in speaking exclusively with PV Tech, James also highlighted the prediction that the deployment of 1 MW to 5 MW solar systems in Brazil is expected to more than triple in 2016, after new net-metering proposals. GTM Research is apparently forecasting 6 MW of such solar systems to be installed in 2015, which will then rise to 20 MW in 2016. Overall, Brazil’s PV sector is expected to triple from 55 MW in 2015 to 145 MW in 2016.

 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? 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.
Advertisement
 
Written By

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (.co.uk), and can be found writing articles for a variety of other sites. Check me out at about.me for more.

Comments

You May Also Like

Cars

By Juan Diego Celemín Mojica “Passionate for all things Latin American, I’ve been closely following the energy and mobility transitions since they started to...

Clean Power

A recent story at PV Magazine shares the story of an observatory in Chile powered by solar power. A solar plant with a capacity...

Autonomous Vehicles

Cars that need no human driver are coming next year, Elon Musk says -- again.

Agriculture

Industrial soybean farming is causing destruction and conflict in Brazil, in part driven by EU biofuel policies. Community leaders from Brazil are asking EU...

Copyright © 2021 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.