Renewable Energy in Latin American May Jump

The market for renewable energy in Latin America is expected to boom, according to a recent report by a consulting firm.

SAN ANTONIO, Texas, US, 2001-08-01 [SolarAccess.com] The market for renewable energy in Latin America is expected to boom, according to a recent report by a consulting firm. Large projects are underway to bring electricity to 75 million people who do not have access to transmission grids, according to an analysis by Frost & Sullivan, entitled ‘Latin American Renewable Energy Markets.’ Extending traditional electricity and telecommunication grids to remote areas brings high costs, and governments, utilities and telecom companies likely will turn to renewable energy technologies to provide electricity. Mexico generated revenues last year of US$12.5 million and is expected to rise to $32.7 million in 2006. The market in Brazil generated $14.9 million in 2000 and will increase to $52.5 million. The analysis also has forecasts for Argentina, Chile and Costa Rica. “While renewable energy will ultimately be competitive on cost, the initial investment for renewable systems is often high,” says research analyst Christie Hangey. “Consequently, traditional energy sources will have an advantage. Some markets are already seeing increased demand for natural gas.” Bolstering consumer confidence will be an important ingredient in boosting the adoption of renewable energy, with customers citing problems with improper installation and lack of after-sale service. Hangey says industry participants must implement customer support systems to rebuild confidence. Frost & Sullivan recently presented marketing awards to Endesa, Kyocera Solar and Siemens Solar for their positive contribution to the renewable energy technology industry.
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