Electricity in Latin America - statistics & facts
The Latin American and Caribbean region has the largest share of electricity generated from renewable energy sources in the world, over two times the global average and three times more than in the United States. In Paraguay and Costa Rica, clean electricity production covers almost the totality of the power grid, contributing to an outstanding 60 percent of renewable power generated in the region. Hydropower alone, the leading electricity source in Latin America and the Caribbean, covered almost 50 percent of the electricity generation mix in the region in 2022.
The Latin American countries exhibit some of the lowest per capita electricity consumption in the world, owing to the incomplete integration of remote and rural communities into the power grid.
Despite already standing out for its highly renewable electricity mix, among the energy transition targets of Latin America is further increasing its production of renewable electricity. For instance, Chile plans to increase its renewable energy mix to 90 percent by 2030. By comparison, Mexico's and Argentina's renewable energy targets are only 47 and 33 percent, respectively.
Thanks to the availability of renewable resources, the region has the potential to become a renewable energy leader in the world, provided that the transition is accompanied by the necessary infrastructure investments.
The Latin American countries exhibit some of the lowest per capita electricity consumption in the world, owing to the incomplete integration of remote and rural communities into the power grid.
Electricity sources in Latin America
Hydropower generation in the region amounted to approximately 778 terawatt-hours in 2022, of which 55 percent was produced in Brazil, the second-largest producer of hydroelectricity in the world. Brazil is also the biggest country in the region and accounts for the largest wind and solar energy capacity installations in Latin America, followed by Mexico. After hydropower, thermal energy is the second-leading source of electricity generation in the region. The share of electricity generated from fossil fuels was around 70 percent in Argentina and Mexico, the most populous Latin American countries after Brazil. The use of nuclear energy is not widespread in the region, and only Brazil, Argentina, and Mexico have nuclear power plants.Electricity outlook in Latin America
Fossil fuels will not be phased out by the Latin American power sector in the next few years. The region had over 20 percent of the globally proved reserves of oil in 2022 and roughly 15 percent of the overall natural gas discoveries in 2023. In 2024, coal power plants were under construction in Brazil and Argentina, and new fields for the extraction of natural gas were projected in the region.Despite already standing out for its highly renewable electricity mix, among the energy transition targets of Latin America is further increasing its production of renewable electricity. For instance, Chile plans to increase its renewable energy mix to 90 percent by 2030. By comparison, Mexico's and Argentina's renewable energy targets are only 47 and 33 percent, respectively.
Thanks to the availability of renewable resources, the region has the potential to become a renewable energy leader in the world, provided that the transition is accompanied by the necessary infrastructure investments.
