Latin America Power & Energy Outlook, 2023

Latin America Power & Energy Outlook, 2023

Future Growth Potential Enhanced by an Accelerated Energy Transition Global Context and the Advancements in Renewable Energy Deployment

RELEASE DATE
05-May-2023
REGION
Latin America
Deliverable Type
Market Outlook
Research Code: K894-01-00-00-00
SKU: EG02313-LA-MO_27554
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Description

While the world witnesses unprecedented policies and investment announcements to accelerate the energy transition—like the Inflation Reduction Act, the Green Deal Industrial Plan, and China's latest Five-year Plan—what happens in Latin America? Will the region join the race for decarbonization seen in the rest of the world? How does that affect the power generation matrix to 2030?

The answers are mixed. Despite belonging to the same region, each country has a reality all its own, conditioned by resource availability, its economy, and, most importantly, the government in office. Nonetheless, figures show that RE has become a common denominator for regional power generation expansion. The economics and excellent resources for wind and solar encourage Latin American countries to achieve a leading role in the new green hydrogen economy, more necessary and feasible than ever in the context of the Russo-Ukrainian War.

The region is taking a step forward in the energy transition journey. Distributed generation has taken off in a dozen countries with no signs of turning back. The renewable corporate PPAs market is advancing, becoming the leading force for wind and solar development in Chile, Brazil, Argentina, Colombia, and Mexico. Green hydrogen projects are starting across a diversity of applications. At the same time, governments enact new regulations supporting batteries, EVs, green hydrogen, and offshore wind, while Brazil reaffirms its ambition of fully deregulating its retail power market.

This Frost & Sullivan 2023 Outlook covers the Latin America Power and Energy market from 2020 to 2030, with 2022 as the base year. We highlight the main trends shaping the market in the current decade and offer power generation investment and installation forecasts segmented by generation technology across key electricity markets.

In the growth opportunities universe section, we identify prospects for market participants to expand their businesses by providing standardized PPAs for SMEs, decarbonization energy solutions for C&I customers, and distributed generation services.

Author: Maria Benintende

Table of Contents

Research Scope

The 2022 Latin American Power and Energy Market—Forecast vs. Actual

Top Predictions for 2023

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Agricultural Biologicals Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Key Power and Energy Industry Trends in Latin America

Trend 1—Decentralization Going Mainstream

Trend 2—Decarbonization Reaching the Latin American Transport Sector

Trend 3—Latin America Approaching its First GW Hours (GWh) of Front-of-the-meter (FTM) Storage with More to Come

Trend 4—Implications of the Russo-Ukrainian War pose long-term opportunities

Trend 5—Latin American Countries Keen to Enter the Green H2 Economy

Trend 6—Latin American Grids under Strain

Glimpses into the Future

Power Generation by Country

Power Generation Capacity Forecast

Power Generation Capacity Forecast (continued)

Annual Power Generation Cumulative Capacity

Power Generation Investment Forecast

Power Generation Investment by Country

Power Capacity Trends

Latin America Biomass Market Snapshot

Latin America BTM Solar Market Snapshot

Latin America Utility-scale Solar Market Snapshot

Latin America Coal Market Snapshot

Latin America Oil/Diesel Market Snapshot

Latin America Natural Gas Market Snapshot

Latin America Hydropower Market Snapshot

Latin America Nuclear Market Snapshot

Latin America Wind Market Snapshot

Latin America Geothermal Market Snapshot

Argentina—Power and Energy Market Forecast

Argentina—Power and Energy Market Analysis

Brazil—Power and Energy Market Forecast

Brazil—Power and Energy Market Analysis

Chile—Power and Energy Market Forecast

Chile—Power and Energy Market Analysis

Colombia—Power and Energy Market Forecast

Colombia—Power and Energy Market Analysis

Mexico—Power and Energy Market Forecast

Mexico—Power and Energy Market Analysis

Peru—Power and Energy Market Forecast

Peru—Power and Energy Market Analysis

RoLAm—Power and Energy Market Forecast

RoLAm—Power and Energy Market Analysis

Growth Opportunity 1: Energy Service Decarbonization for C&I Customers

Growth Opportunity 1: Energy Service Decarbonization for C&I Customers (continued)

Growth Opportunity 2: Standardized RE PPAs for Small and Medium Enterprises

Growth Opportunity 2: Standardized RE PPAs for Small and Medium Enterprises (continued)

Growth Opportunity 3: Operational Excellence-based Business Models to Propel Distributed Solar PV

Growth Opportunity 3: Operational Excellence-based Business Models to Propel Distributed Solar PV (continued)

Key Conclusions

Abbreviations and Acronyms

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

Legal Disclaimer

While the world witnesses unprecedented policies and investment announcements to accelerate the energy transition—like the Inflation Reduction Act, the Green Deal Industrial Plan, and China's latest Five-year Plan—what happens in Latin America Will the region join the race for decarbonization seen in the rest of the world How does that affect the power generation matrix to 2030 The answers are mixed. Despite belonging to the same region, each country has a reality all its own, conditioned by resource availability, its economy, and, most importantly, the government in office. Nonetheless, figures show that RE has become a common denominator for regional power generation expansion. The economics and excellent resources for wind and solar encourage Latin American countries to achieve a leading role in the new green hydrogen economy, more necessary and feasible than ever in the context of the Russo-Ukrainian War. The region is taking a step forward in the energy transition journey. Distributed generation has taken off in a dozen countries with no signs of turning back. The renewable corporate PPAs market is advancing, becoming the leading force for wind and solar development in Chile, Brazil, Argentina, Colombia, and Mexico. Green hydrogen projects are starting across a diversity of applications. At the same time, governments enact new regulations supporting batteries, EVs, green hydrogen, and offshore wind, while Brazil reaffirms its ambition of fully deregulating its retail power market. This Frost & Sullivan 2023 Outlook covers the Latin America Power and Energy market from 2020 to 2030, with 2022 as the base year. We highlight the main trends shaping the market in the current decade and offer power generation investment and installation forecasts segmented by generation technology across key electricity markets. In the growth opportunities universe section, we identify prospects for market participants to expand their businesses by providing standardized PPAs for SMEs, decarbonization energy solutions for C&I customers, and distributed generation services. Author: Maria Benintende
More Information
Deliverable Type Market Outlook
Author Maria Benintende
Industries Energy
No Index No
Is Prebook No
Keyword 1 Latin America Renewable Energy
Keyword 2 Energy Industry Trends
Keyword 3 Energy Industry Trends 2023
Podcast No
WIP Number K894-01-00-00-00