The development of the electricity supply market in the Energy [R]evolution scenario is charaterised by an increasing share of renewable energy sources. By 2050, 95% of the electricity produced in Latin America will come from renewable energy sources. ‘New’ renewables – mainly wind, PV and biomass – will contribute 54% of electricity generation. The installed capacity of renewable energy technologies will grow from the current 148 GW to 436 GW in 2030 and 863 GW in 2050, increasing renewable capacity by a factor of six within the next 40 years.
Table 5.13 shows the comparative evolution of the different renewable technologies in Latin America over time. Up to 2030 hydro will remain the main contributor, while wind and photovoltaics (PV) gain a growing market share. After 2020, the continuing growth of wind and PV will be complemented by electricity from biomass and solar thermal (CSP) energy. The Energy [R]evolution scenario will lead to a high share of renewables achieving an electricity share of 80% already by 2020 and 86% by 2030.