Green Energy Boom Helps Chile Contain Surging Power Prices
- Chile leads Latin America in installation of solar power
- Success achieved without the help of government incentives
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Chile’s solar industry is proving a win win. Not only has it cut emissions of the global warming gas carbon dioxide, but it has also helped slash some of the highest electricity costs in Latin America. Those benefits have come at no expense to the government, which refused to offer any of the subsidies that drained resources in countries such as Spain and Japan. Looking ahead, the industry could even turn into a major export earner.
The graph below shows the generating capacity of solar panels installed each year in Chile since 2012 and the estimate for this year.