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Latin American market outlook for the second half of 2021

2021-12-20

Latin American market outlook for the second half of 2021

After a terrible 2020, the Latin American economy has begun to enter a period of rebound.Large-scale vaccination has led to a sharp drop in the number of confirmed cases of the new crown, and the government has been able to relax restrictions on businesses and consumers. Economic rebound pushes electricity demand back to levels higher than before the epidemic. The new installed capacity of clean power continues to be higher than that of the traditional power generation model. The newly-added wind power and photovoltaic installed capacity in the first nine months of 2021 have exceeded the highest annual installed capacity in history.
The expected net new installed capacity of wind power and photovoltaic power in Latin American countries
Source: Bloomberg New Energy Finance


 
  • The newly installed capacity of wind power and photovoltaics rebounded strongly this year. Bloomberg New Energy Finance predicts that the annual new installed capacity will reach 16.1GW, more than half of the 2020 level.
  • Brazil and Chile led the market's rebound, and both countries' new installed photovoltaic capacity this year set a record. Argentina continues to be subject to macroeconomic issues, while Mexico’s market is frustrated by regulatory uncertainty.
  • JinkoSolar is still the leading photovoltaic equipment supplier in the region and has entered all major markets, followed by Longi and JA Technology.

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