According to Climatescope, an index that measures clean energy in 55 emerging nations, clean energy capacity in Latin America and the Caribbean has nearly doubled in the last three years. 56% of the LAC energy now comes from clean sources.
According to Michael Hofmann, green growth expert at the Multilateral Investment Fund, growth is driven by a number of factors, including an abundance of natural resources (solar irradiation and wind speeds) and market structures. The declining cost of clean energy technology coupled with the high cost of fossil fuels has allowed solar and wind to achieve grid-parity in some countries.
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