Energy Efficiency and Renewable Energy in Latin America: Policies towards Sustainable Development

Abstract

Latin America possesses great natural resources and many opportunities are emerging for new investments and innovation, since many countries are planning to modify the structure of their energy networks in order to give a greater role to renewables. High electricity prices in most of the region, growing demand, problems of energy security have been the main drivers for the recent expansion of the renewable energy market. Socio-economic issues are priority targets in LA countries, social inequality and poverty are still major challenges in the region. On the other hand, technological developments have permitted innovative approaches, including private participation, the creation of social enterprises and business models to provide for electricity services to low income populations and small business. In spite of the recent progress regarding the widespread dissemination of the ‘new renewable’ and energy efficient technologies, the reduction of CO2 emissions, in major LA countries have not been significant along the past decade. We suggest in this paper an area which deserves attention so that these technologies can play a relevant role towards the sustainable development of the region.