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Solar is now the cheapest source of electric power in Chile, according to a new report by Deutsche Bank.
In Chile’s most recent power auction, the bids from solar project developers came in at between $65 and $68 per megawatt hour (MWh) were considerably more competitive than bids made by coal plants, which were priced at $85 per MWh. Solar power projects were awarded the lion’s share of the 1,200 gigawatt hours (GWh) of electricity contracts sold.
Chile boasts one of the world’s biggest solar resources. High electricity prices and strong demand from Chile’s mining industry have driven demand growth for solar, especially large scale commercial or utility projects.
The total installed solar capacity in Chile increased from less than 4 MW in 2013 to more than 220 MW last year. Nearly 1 GW of solar is projected to be installed in Chile in 2015. Meanwhile, a total of about 8 GW of solar power projects have been approved for development in Chile. First Solar FSLR +1.89% and SunEdison are two of the biggest U.S. solar companies active in Chile.
In terms of power demand growth, per capita electricity consumption in Chile increased by about one third between 2000 and 2010. The total power demand growth in Chile has supported the surge in solar power over the past two years. In particular, Deutsche Bank attributes the recent surge in solar deployment to Chile’s electric-intensive mining industry.
The primary challenge to sustaining recent growth rates is Chile’s transmission grid. The solar resource potential – and the majority of installed solar capacity – is primarily located in the northern part of Chile. However, “all the best spaces for solar projects [in northern Chile] have generally been already taken,” said Vishal Shah, a solar market analyst at Deutsche Bank, in an interview with PV Tech.
The $3.9-billion project in the southern town of Ouarzazate, also known as Noor I, is the first phase of a project expected to provide 1.2 million Moroccans with power. Row after row of solar panels glisten in the sunlight, surrounding a power station in the center. Climate Investment Funds, a global agency investing $435 million in the project, said it will be the world's biggest concentrated solar plant, meaning that it will store power to generate when the sun isn't shining. It said Morocco was chosen for the project in part because of its political stability, and because the government created a solar energy agency and introduced measures in 2012 to phase out fossil fuel subsidies.
Aerial view of the solar plant of Ouarzazate, central Morocco, Thursday, Feb.4, 2016. Morocco unveils what's billed as the world's biggest solar plant, taking advantage of the Sahara sunshine and a growing push for renewable energy.
"Morocco was more advanced in terms of the regulatory framework and having the building blocks in place, whereas Tunisia and Egypt went through the Arab Spring," said Mafalda Duarte, manager of the fund. While other countries have seen democratic uprisings in recent years, Morocco's leadership quelled protests with some reforms to avert upheaval. "The king and the government have sustained their leadership role," she said.
Hakima El Haite, junior minister for Environment, said: "This project allows a number of countries to see there's hope for countries who are not rich in petroleum." El Haite referred to the recent climate conference in Paris, but noted the solar project began well before the meeting. Citing Morocco's heavy external energy dependence, "this will give Morocco its autonomy," El Haite said. While the project is aimed at reducing carbon emissions, environmental activists are concerned that it will require water from the nearby Mansour Eddahbi dam for cooling, at a time of ongoing drought.
News from The Associated Press
The total installed solar capacity in Chile increased from less than 4 MW in 2013 to more than 220 MW last year. Nearly 1 GW of solar is projected to be installed in Chile in 2015.
Solar Power Thrives In Chile, No Subsidies Needed
Solar is now the cheapest source of electric power in Chile, according to a new report by Deutsche Bank.
In Chile’s most recent power auction, the bids from solar project developers came in at between $65 and $68 per megawatt hour (MWh) were considerably more competitive than bids made by coal plants, which were priced at $85 per MWh. Solar power projects were awarded the lion’s share of the 1,200 gigawatt hours (GWh) of electricity contracts sold.
Chile boasts one of the world’s biggest solar resources. High electricity prices and strong demand from Chile’s mining industry have driven demand growth for solar, especially large scale commercial or utility projects.
The total installed solar capacity in Chile increased from less than 4 MW in 2013 to more than 220 MW last year. Nearly 1 GW of solar is projected to be installed in Chile in 2015. Meanwhile, a total of about 8 GW of solar power projects have been approved for development in Chile. First Solar FSLR +1.89% and SunEdison are two of the biggest U.S. solar companies active in Chile.
In terms of power demand growth, per capita electricity consumption in Chile increased by about one third between 2000 and 2010. The total power demand growth in Chile has supported the surge in solar power over the past two years. In particular, Deutsche Bank attributes the recent surge in solar deployment to Chile’s electric-intensive mining industry.
The primary challenge to sustaining recent growth rates is Chile’s transmission grid. The solar resource potential – and the majority of installed solar capacity – is primarily located in the northern part of Chile. However, “all the best spaces for solar projects [in northern Chile] have generally been already taken,” said Vishal Shah, a solar market analyst at Deutsche Bank, in an interview with PV Tech.
Solar very well may become the most economic choice world-wide. Seriously, no breaking your back to get at the coal and no billions of bucks going after oil finds. A winner.
No subsidies. We can't have that in the age of big uncontrolled government.Solar Power Thrives In Chile, No Subsidies Needed
Solar is now the cheapest source of electric power in Chile, according to a new report by Deutsche Bank.
In Chile’s most recent power auction, the bids from solar project developers came in at between $65 and $68 per megawatt hour (MWh) were considerably more competitive than bids made by coal plants, which were priced at $85 per MWh. Solar power projects were awarded the lion’s share of the 1,200 gigawatt hours (GWh) of electricity contracts sold.
Chile boasts one of the world’s biggest solar resources. High electricity prices and strong demand from Chile’s mining industry have driven demand growth for solar, especially large scale commercial or utility projects.
The total installed solar capacity in Chile increased from less than 4 MW in 2013 to more than 220 MW last year. Nearly 1 GW of solar is projected to be installed in Chile in 2015. Meanwhile, a total of about 8 GW of solar power projects have been approved for development in Chile. First Solar FSLR +1.89% and SunEdison are two of the biggest U.S. solar companies active in Chile.
In terms of power demand growth, per capita electricity consumption in Chile increased by about one third between 2000 and 2010. The total power demand growth in Chile has supported the surge in solar power over the past two years. In particular, Deutsche Bank attributes the recent surge in solar deployment to Chile’s electric-intensive mining industry.
The primary challenge to sustaining recent growth rates is Chile’s transmission grid. The solar resource potential – and the majority of installed solar capacity – is primarily located in the northern part of Chile. However, “all the best spaces for solar projects [in northern Chile] have generally been already taken,” said Vishal Shah, a solar market analyst at Deutsche Bank, in an interview with PV Tech.
Solar very well may become the most economic choice world-wide. Seriously, no breaking your back to get at the coal and no billions of bucks going after oil finds. A winner.
Solar Power Thrives In Chile, No Subsidies Needed
Solar is now the cheapest source of electric power in Chile, according to a new report by Deutsche Bank.
In Chile’s most recent power auction, the bids from solar project developers came in at between $65 and $68 per megawatt hour (MWh) were considerably more competitive than bids made by coal plants, which were priced at $85 per MWh. Solar power projects were awarded the lion’s share of the 1,200 gigawatt hours (GWh) of electricity contracts sold.
Chile boasts one of the world’s biggest solar resources. High electricity prices and strong demand from Chile’s mining industry have driven demand growth for solar, especially large scale commercial or utility projects.
The total installed solar capacity in Chile increased from less than 4 MW in 2013 to more than 220 MW last year. Nearly 1 GW of solar is projected to be installed in Chile in 2015. Meanwhile, a total of about 8 GW of solar power projects have been approved for development in Chile. First Solar FSLR +1.89% and SunEdison are two of the biggest U.S. solar companies active in Chile.
In terms of power demand growth, per capita electricity consumption in Chile increased by about one third between 2000 and 2010. The total power demand growth in Chile has supported the surge in solar power over the past two years. In particular, Deutsche Bank attributes the recent surge in solar deployment to Chile’s electric-intensive mining industry.
The primary challenge to sustaining recent growth rates is Chile’s transmission grid. The solar resource potential – and the majority of installed solar capacity – is primarily located in the northern part of Chile. However, “all the best spaces for solar projects [in northern Chile] have generally been already taken,” said Vishal Shah, a solar market analyst at Deutsche Bank, in an interview with PV Tech.
Solar very well may become the most economic choice world-wide. Seriously, no breaking your back to get at the coal and no billions of bucks going after oil finds. A winner.
This appears to be great for Chile but I think geography and their topography contribute a lot to their success.
Solar Power Thrives In Chile, No Subsidies Needed
Solar is now the cheapest source of electric power in Chile, according to a new report by Deutsche Bank.
In Chile’s most recent power auction, the bids from solar project developers came in at between $65 and $68 per megawatt hour (MWh) were considerably more competitive than bids made by coal plants, which were priced at $85 per MWh. Solar power projects were awarded the lion’s share of the 1,200 gigawatt hours (GWh) of electricity contracts sold.
Chile boasts one of the world’s biggest solar resources. High electricity prices and strong demand from Chile’s mining industry have driven demand growth for solar, especially large scale commercial or utility projects.
The total installed solar capacity in Chile increased from less than 4 MW in 2013 to more than 220 MW last year. Nearly 1 GW of solar is projected to be installed in Chile in 2015. Meanwhile, a total of about 8 GW of solar power projects have been approved for development in Chile. First Solar FSLR +1.89% and SunEdison are two of the biggest U.S. solar companies active in Chile.
In terms of power demand growth, per capita electricity consumption in Chile increased by about one third between 2000 and 2010. The total power demand growth in Chile has supported the surge in solar power over the past two years. In particular, Deutsche Bank attributes the recent surge in solar deployment to Chile’s electric-intensive mining industry.
The primary challenge to sustaining recent growth rates is Chile’s transmission grid. The solar resource potential – and the majority of installed solar capacity – is primarily located in the northern part of Chile. However, “all the best spaces for solar projects [in northern Chile] have generally been already taken,” said Vishal Shah, a solar market analyst at Deutsche Bank, in an interview with PV Tech.
Solar very well may become the most economic choice world-wide. Seriously, no breaking your back to get at the coal and no billions of bucks going after oil finds. A winner.
This appears to be great for Chile but I think geography and their topography contribute a lot to their success.
Success? Did you read the article, there is 200mw installed in a country that needs a 10000000000000mw
Right from the article, they have 220 mw of installed solar with a capaciry factor of what? 17? Delivering maybe 40 mw?
The total installed solar capacity in Chile increased from less than 4 MW in 2013 to more than 220 MW last year. Nearly 1 GW of solar is projected to be installed in Chile in 2015.
Installed means installed, not added.
The article states 2014, not me.
The total installed solar capacity in Chile increased from less than 4 MW in 2013 to more than 220 MW last year. Nearly 1 GW of solar is projected to be installed in Chile in 2015
Solar Power Thrives In Chile, No Subsidies Needed
Solar is now the cheapest source of electric power in Chile, according to a new report by Deutsche Bank.
In Chile’s most recent power auction, the bids from solar project developers came in at between $65 and $68 per megawatt hour (MWh) were considerably more competitive than bids made by coal plants, which were priced at $85 per MWh. Solar power projects were awarded the lion’s share of the 1,200 gigawatt hours (GWh) of electricity contracts sold.
Chile boasts one of the world’s biggest solar resources. High electricity prices and strong demand from Chile’s mining industry have driven demand growth for solar, especially large scale commercial or utility projects.
The total installed solar capacity in Chile increased from less than 4 MW in 2013 to more than 220 MW last year. Nearly 1 GW of solar is projected to be installed in Chile in 2015. Meanwhile, a total of about 8 GW of solar power projects have been approved for development in Chile. First Solar FSLR +1.89% and SunEdison are two of the biggest U.S. solar companies active in Chile.
In terms of power demand growth, per capita electricity consumption in Chile increased by about one third between 2000 and 2010. The total power demand growth in Chile has supported the surge in solar power over the past two years. In particular, Deutsche Bank attributes the recent surge in solar deployment to Chile’s electric-intensive mining industry.
The primary challenge to sustaining recent growth rates is Chile’s transmission grid. The solar resource potential – and the majority of installed solar capacity – is primarily located in the northern part of Chile. However, “all the best spaces for solar projects [in northern Chile] have generally been already taken,” said Vishal Shah, a solar market analyst at Deutsche Bank, in an interview with PV Tech.
Solar very well may become the most economic choice world-wide. Seriously, no breaking your back to get at the coal and no billions of bucks going after oil finds. A winner.
