OLADE's 2023 Energy Outlook for Latin America and the Caribbean: A Comprehensive Overview

The 2023 Energy Outlook for Latin America and the Caribbean is an essential resource for policymakers, industry leaders, and stakeholders invested in the region's energy future. It offers a roadmap for sustainable energy development and a cleaner, more efficient energy landscape

In a significant stride towards a sustainable future, the Latin American Energy Organization (OLADE) presents the "2023 Energy Outlook for Latin America and the Caribbean". This pivotal document, serving the energy community at large, encompasses detailed energy data from its 27 member countries, signifying a collective march towards decarbonization and sustainable energy practices.

Consolidation and Analysis: The Backbone of the Outlook

The Energy Outlook is meticulously crafted using official data provided by the member countries. This data undergoes a rigorous consolidation and processing routine by OLADE's technical team, ensuring accuracy and comprehensiveness. The 2023 edition highlights the region's unwavering commitment to decarbonization processes, evident through several remarkable milestones:

• A significant increase in electricity generation capacity from non-conventional renewable sources: 10% in wind and a remarkable 46% in solar during 2022.
• An impressive 95% of the new installed capacity in electricity generation in 2022 was renewable.
• A 13% increase in renewable electricity generation in 2022.
• However, a gap remains with 16.2 million inhabitants still lacking access to electrical services.

Looking Ahead: The 2050 Prospective Study

The report doesn't just look at the present; it includes a forward-looking study, envisioning a Net Zero scenario by 2050. This ambitious projection anticipates a rapid acceleration of renewable energy adoption and introduces, for the first time, projections of green hydrogen exports to external markets, in addition to its increased consumption within the region. Key findings include:

• A tripling of installed generation capacity by 2050.
• An additional 1,000 GW of renewable generation capacity needed, doubling the current capacity in the region.
• A predicted total demand for green hydrogen in 2050 reaching 118 Mtep: distributed among transport (33%), industry (14%), electricity generation (25%), and exports (28%).
• A 32% reduction in emissions by 2050 compared to 2021.
• An anticipated 23% increase in final energy consumption by 2050 compared to a 52% increase if current trends continue, thanks to the shift to more efficient sources and technologies like electricity, green hydrogen, and solar thermal.

Access the Report

The "2023 Energy Outlook for Latin America and the Caribbean" is an essential resource for policymakers, industry leaders, and stakeholders invested in the region's energy future. It offers a roadmap for sustainable energy development and a cleaner, more efficient energy landscape.

Discover the comprehensive analysis and strategic insights by accessing the full report: OLADE's 2023 Energy Outlook.