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GTM Research expects Latin America's solar market to grow 55% compared to last year, a booming year
for Mexico and Brazil.
According to GTM Research, the Latin American solar market is expected to continue its growth trend, with 2.
2GW
of PV installed capacity this year.
Solar installations were 1.
4GW last year, up 55%.
GTM Research expects Chile to be the largest market in 2016, with 660MW of installed capacity and 2GW of cumulative installed capacity
in Chile.
However, the company expects 640MW
of installed capacity in Mexico.
By 2017, GTM Research expects the Chilean market to decline, Mexico to reach 2GW of installed capacity, and by 2018 may become the region with the largest installed PV capacity in the
region.
GTM Research also expects 2016 to be the year of the explosion in Brazil, with installed capacity likely to reach 300MW.
In the past six months, several PV plants exceeding 200MW have started production, making it the largest project
to date.
A lot of solar PV in Chile, Brazil and Mexico is obtained through auction processes, and in many cases solar energy beats many competitors
.
GTM Research expects solar to already win 20% of capacity in Chile, 63% in Brazil and 72%
in Mexico.
Mexico has been selling low prices in recent auctions, with Enel Green Power bidding for the lowest price in the world at $35/MWh
.
However, there are many concerns about when the projects acquired in these regions will be established, and how many projects will expire
in 2016 and 2017.
Such concerns persist in Brazil, which has won several GW-scale solar projects in auction but has suffered from political and economic instability
.
GTM Research expects Latin America's solar market to grow 55% compared to last year, a booming year
for Mexico and Brazil.
According to GTM Research, the Latin American solar market is expected to continue its growth trend, with 2.
2GW
of PV installed capacity this year.
Solar installations were 1.
4GW last year, up 55%.
GTM Research expects Chile to be the largest market in 2016, with 660MW of installed capacity and 2GW of cumulative installed capacity
in Chile.
However, the company expects 640MW
of installed capacity in Mexico.
By 2017, GTM Research expects the Chilean market to decline, Mexico to reach 2GW of installed capacity, and by 2018 may become the region with the largest installed PV capacity in the
region.
GTM Research also expects 2016 to be the year of the explosion in Brazil, with installed capacity likely to reach 300MW.
In the past six months, several PV plants exceeding 200MW have started production, making it the largest project
to date.
A lot of solar PV in Chile, Brazil and Mexico is obtained through auction processes, and in many cases solar energy beats many competitors
.
GTM Research expects solar to already win 20% of capacity in Chile, 63% in Brazil and 72%
in Mexico.
Mexico has been selling low prices in recent auctions, with Enel Green Power bidding for the lowest price in the world at $35/MWh
.
However, there are many concerns about when the projects acquired in these regions will be established, and how many projects will expire
in 2016 and 2017.
Such concerns persist in Brazil, which has won several GW-scale solar projects in auction but has suffered from political and economic instability
.
