Latin America continues to be the global leader in renewable energy in 2016. A total of 2.7 GW of solar PV will be installed this year from projects in Chile, Honduras and Mexico. Record-low bid prices in Mexico are attracting the interest of governments and promoting the country to the second largest market in L.A.; Argentina has started the process to tender for 1 GW of renewables. Chile remains the regional leader with 44% new installations this year. Challenges will slow development and firms may wish to wait for component prices to fall as more countries adopt public tenders, say analysts from IHS Markit Ltd.