Latin America is making its mark on the global solar map. In 2010, the region barely had a solar market to speak of, but in 2021, it’s projected to have more than 40 gigawatts of installed solar capacity, according to the latest edition of GTM Research’s Latin America PV Playbook. The expansion is being driven by several factors, including plummeting solar prices and a pipeline of new, large projects in Mexico, Chile and Brazil that are adding multi-gigawatts of new capacity. In light of these developments, the Latin American market is on track to grow exponentially, with a cumulative forecast of 41 gigawatts of new PV demand installed between 2016 and 2021. Annual installations are on track to more than double over the same period. By the end of the decade, Latin America will represent 10 percent of global PV demand.
– via Greentech Media