At least 50% of Chile's energy generation will come from renewable energy by 2030, using sources that are not hydro-related.
GlobalData released its latest Chilean power outlook, noting that in 2018, non-hydro renewable energy generation represented 19% of the country's energy mix. Within that output, solar PV delivered 50% of the renewable total and wind was at 34%. The Latin American country will also see a growth in power capacity from gas sources, but at a lesser rate - to 55% by 2030, from 48% in 2018.
As a result, the country is now a net exporter of its electricity generation and the consultancy behind the report expects to see gas-based and renewable energy growing further in proportion over the coming 12 years as the country's coal-fired power stations continue to decommission.
Consumption of power in Chile also grew as a result of greater economic activity, growing annually by 4% in the 8 years to 2018.
The country has also noted its need to invest in energy storage in order to deliver reliable, sustainable and continuous green energy. It is already investing in cutting-edge storage technologies, such as molten salts, pumped hydro, battery storage and hydrogen.
Chile's government has also released its plans for transmission expansion as it works to integrate further renewable technologies, allowing the country to transition to a self-sufficient, exporting clean energy producer.
It's forward-thinking approach, defined in its Energy 2050 Roadmap, has also allowed Chile to grow its relationship with the USA. Through energy cooperation and joint investment in Chilean renewables infrastructure, Chile is beginning to see interest in its power sector from private investors, offering the opportunity for further economic growth, security of supply and the development of skilled jobs in a growth sector.