Latin America hosts some of the world’s most dynamic renewable energy markets, according to IRENA. Countries in the region are endowed with renewable resources that make for unprecedented opportunities in solar, wind, hydro and geothermal energy.
The rapid reduction in technology costs help to buoy the business case for renewables investment and with the right policies in place, renewable energy will become a “catalyst for job creation, GDP growth, development of local industries, and energy access” says IRENA Director-General Adnan Z. Amin. Steps to include as the sector advances are: catalyzing public and private finance, adapting policies to dynamic market conditions, adopting a system-level approach in the power sector, harnessing complementarities across technologies, unlocking the potential for renewable sources in end-use sectors, and fully recognising the socio-economic benefits of renewable energy deployment. The report will be launched in the opening session of the Economic Commission for Latin America and the Caribbean VII.
Read the full story in PV Magazine.