It’s time for Latin America’s renewable energy to shine. As governments in Latin America scramble to deal with the fall-out of COVID-19, renewable energy should be top of mind as a possible pathway to economic recovery.
The increasing view of renewable energy not just as a way to reduce pollution, but as a means to improve public health and hedge against future climate risks and stranded assets. That idea has gained additional resonance in light of the pandemic, and the region is particularly well-positioned to leverage the renewable industry as a source of new jobs and investment.
As IRENA (the International Renewable Energy Agency) in America’s Quarterly mentioned that many of the top markets for investment in renewable energy are located in Latin America. Previously Brazil, Chile, and Mexico ranked as the top markets in the world for U.S. firms and exporters of renewable energy and energy efficiency technologies by The U.S. Department of Commerce.
But at this moment, Latin America has yet to make good on its potential. For example, the recent regulatory roadblocks in Mexico could negatively affect renewable energy projects worth $6.4 billion, supported in large part by foreign investors. European countries such as France and Germany have consolidated behind a “green recovery roadmap” in light of COVID-19.
1 Pingback