Outbound to Latin America: Solar Market Showing Big Potential

By Doreen Hemlock, Contributor
13 September 2012   

 

ORLANDO -- The solar industry in Latin America is starting to take off, aided by shrinking costs for photovoltaics and new government programs that facilitate business, experts said Wednesday at Solar Power International 2012.

The Latin American region of nearly 600 million residents holds great promise for solar, thanks to relatively high costs for electricity, ample sunlight and a fast-expanding middle class that is increasing its energy consumption, panelists said.

Puerto Rico, the U.S. Caribbean island of 4 million people, offers one of the best solar markets short-term. The island has ambitious renewable energy targets and offers both federal and local incentives for solar, said industry veteran Elias Behar, who runs Latin American sales for manufacturer SolarWorld Americas.

Chile, the South American nation of 15 million people that often ranks top for business in Latin America, also offers strong opportunities now. While its government offers no specific solar incentives, Chile has an open market and excellent sun to tap, especially in the  Atacama desert, said Behar.