Renewable energy in Latin America - statistics & facts

Amidst the debate on the future developments of climate change and the need to reach net-zero emissions within the next couple of decades, the global energy transition from fossil fuels to renewables has found itself the center of attention. Renewable sources – which are defined as resources that can be naturally renewed within a human lifetime – include solar, wind, marine, biomass, hydro, and geothermal energy. Due to its vast geography and abundant natural resources, Latin America has the potential of becoming a major player in the sector. In 2021, the renewable energy capacity in the region neared 292 gigawatts, a growth of nearly 68 percent in comparison to a decade earlier.

A decade of progress in renewable capacity

Renewable resources, in particular hydropower, have historically been at the core of Latin America’s energy matrix. For example, the Itaipu Dam, on the border between Brazil and Paraguay – the world’s second largest hydroelectricity dam, based on capacity – was inaugurated in 1984. Almost forty years later, Latin America’s hydropower capacity stood at some 200 gigawatts, representing around two-thirds of the region’s renewable capacity in 2021. In line with global trends, however, the past decade saw a focus shift, with solar and wind power in the spotlight. In turn, Latin America’s wind power capacity grew six-fold since 2013. Meanwhile, its solar photovoltaic capacity increased by over 140-fold in the past ten years, reaching roughly 30 gigawatts in 2021.

Will potential become reality?

Despite the growth of the past years, most Latin American countries still exhibit a considerable opportunity for development when it comes to renewable energy sources. Renewables still accounted for just over ten percent of the primary energy supply in Mexico in 2020. In Argentina, they made up an average of 9.2 percent of the primary energy generation in 2021. In addition, countries like Brazil and Paraguay – which hold some of the region’s highest shares of renewables in their domestic energy supply – heavily rely on large hydropower plants. Yet, the promotion of large hydropower as a renewable energy source finds itself under dispute due to the high social and environmental impacts caused by dam construction. As a result, in the age of solar and wind, Latin American countries like Brazil, Chile, and Argentina remain among the most attractive for renewable energy investments.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Lucía Fernández, Feb 8, 2023

Key insights

Renewable energy capacity in Latin America
314.5 GW
Wind energy capacity
40 GW
Solar photovoltaic capacity
45.8 GW
Get more insights

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Leading countries based on renewable energy capacity in Latin America and the Caribbean in 2022 (in megawatts)

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