The International Resource Journal
Latin America‚Äôs renewables sector has experienced steady growth in recent years. It is fuelled by a mix of rising energy demands, decreasing technology costs, availability of renewable resources and policy changes aimed at promoting sustainable development in the region. This article explores the outlook for the sector and the challenges facing its development.
The year of 2012 was not particularly strong for the renewable energy sector worldwide, with governments cutting subsidies for new, cleaner technologies in an effort to tackle the debt crises in the US and Europe. According to Bloomberg New Energy Finance, investments in green energy fell 11% globally to US$269bn, though this was still five times higher than in 2004. However, the downturn in the US and Europe has not been mirrored in most developing regions, including Latin America.