24 October 2020

Chile: a land favorable for developing renewable energy

Fossil fuels are one of the main causes of climate change around the world. That is why transitioning to a renewable energy matrix is a concrete way of halting and reversing environmental damage.

Chile’s unique geography is favorable for developing clean energy. Solar, wind, water and geothermal resources are accessible throughout the length of the country.  These natural resources, combined with a long-term energy policy – which has made it possible to reduce the costs of renewable technologies – have made Chile one of the world leaders in this area.

In the Climatescope 2019 Report compiled by Bloomberg, Chile is ranked as the second most attractive market for clean energy investment. One of our goals is for 70% of the energy consumed in Chile to come from renewable sources by 2050 and this has caught the attention of foreign investors.

According to Carlos Finat, Executive Director of the Chilean Association for Renewable Energies (ACERA), foreign investment in renewable energy for 2020 was concentrated primarily in wind power and solar photovoltaic (PV) projects. The installed capacity for these technologies is estimated at around 700 MW each.

“2020 should end with a record amount of 1,540 MW of installed NCRE capacity, equal to about US$2.2 billion based on the unit investment costs of each technology,” said Finat. He also noted that an additional appeal for foreign investors in Chile is the stability of the energy market’s regulatory regime.

According to Finat, some US$8.6 billion is forecast to be invested in non-conventional renewable energy projects between 2021 and 2024, equal to 7,600 MW installed capacity.

Another way in which Chile is seeking to reduce its impact on the environment and meet the goal of carbon neutrality by 2050 is by developing electromobility and green hydrogen. With respect to the former, our country has already incorporated more than 600 electric buses into Santiago’s public transit system, making our capital the city with the most electric buses in the world outside of China.

With respect to green hydrogen, Chile is currently developing a National Green Hydrogen Strategy to position the country as a key actor in this industry. This plan will be officially presented in November.

 

Related

Learn more >

Non-fiction contributions to Chilean cinema

November 29 is Chilean Cinema Day, which was established in memory of filmmakers Jorge Müller and Carmen Bueno. This year it comes just days after a great piece of news for the industry. On November 19, it was announced that Maite Alberdi’s film The Mole Agent (El agente topo) would represent Chile at the Academy Awards in the category of Best International Feature Film.

Chilean Antarctic Day: Exploration and research with global impact in the southernmost territory

Thursday, November 6 marks 80 years since the historic day in 1940 when President Pedro Aguirre Cerda set Chile’s territorial limit in Antarctica. Despite the announcement, Chile was not effectively present in the territory until 1947, when it set up its first base in the area, named after Arturo Prat. The bases named after Bernardo O’Higgins (1948), Gabriel González Videla (1951), Pedro Aguirre Cerda (1955), Rodolfo Marsh (1969) and others followed. Today, Chile has 12 bases in its Antarctic territory.

Chile keeps moving forward in foreign investment on renewable energies

In the context of our country’s commitment to create a more sustainable future based on innovation and the generation of new renewable energy sources, the international financial community brings us more good news. 

Pure talent: The solid present and promising future of Chile’s animation industry

October 28 is International Animation Day, which commemorates the first public screening of Théâtre Optique (Optical Theatre) by French animation pioneer Émile Reynaud. The showing, which took place at the Grevin Museum in Paris in 1892, included three short films entitled ‘Pauvre Pierrot! (Poor Pete),’ ‘Le Clown et ses chiens (The Clown and His Dogs)’ and ‘Un bon bock (A Good Beer).’

3 reasons why Chile is the astronomical students’ paradise

Its ideal sky conditions and state-of-the-art technology are among the reasons why both local and international students, and even renowned astronomers, are motivated to observe and study the skies in Chile.

Chile’s enormous potential for developing green hydrogen

 Production of what is being called the “fuel of the future” will be key to achieving carbon neutrality by 2050.

Richness and diversity in traditional Chilean architecture

The first Monday in October is World Architecture Day, created by the International Union of Architects (UIA) to highlight the responsibility of architects in the development of cities.

6 playlists to celebrate Chilean Music Day

Chile comes across loud and clear through its music and that’s why every October 5th we celebrate “Chilean Music and Musicians Day”. Today we invite you to mark this date with a selection of Chile’s best songs and performers.