(Courtesy CIA.gov) |
Chile has long been the leader of Latin America's renewable energy market. In 2015, investment in renewables, (including small hydropower projects of <50 MW) was around $2.6 billion.
The rate of growth of investment in renewable energy has increased in the past few years, and competition has lowered electricity costs.
But geothermal energy is lagging. Chile’s only geothermal plant, Cerro Pabellón, which opened earlier this year, is South America’s first operating plant. The Government has tried to develop geothermal energy, but despite a promising start, several issues are preventing further investments in exploration.
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