Electricity in Chile in 2023/2024

In the period from September 2023 to August 2024, Chile's electricity consumption is primarily supported by low-carbon sources, constituting approximately 69% of the total. Within this group, hydropower contributes slightly more than 30%, while solar and wind each account for around 21% and 12%, respectively. On the other hand, fossil fuels still make up around 31% of Chile's electricity, with coal at 16% and gas at 14%. Biofuels, a more contentious low-carbon source, contribute about 5% of the electricity. This diverse mix of sources shows Chile's strong commitment to reducing its carbon footprint, though there remains significant reliance on fossil fuels that need to be addressed.

Suggestions

To further increase its low-carbon electricity generation, Chile should consider expanding its wind and solar energy capacities, given their already substantial contributions. Countries like Denmark and Uruguay, where wind power generates around 61% and 37% of electricity respectively, serve as excellent examples Chile could follow. Moreover, Chile should explore incorporating nuclear energy, learning from the significant reliance on nuclear power seen in France and Slovakia, where it accounts for 67% and 60% of the electricity, respectively. The implementation of nuclear energy could provide a steady and reliable low-carbon power source, complementing the variability of wind and solar.

History

Looking back over the past few decades, Chile's commitment to low-carbon electricity has evolved, with notable increases in hydro and solar power. During the 1990s, hydropower grew significantly, particularly in 1991 and 1992. However, there were also years of decline, such as 1998 and 1999, demonstrating the variable nature of hydropower. In the early 2000s, hydropower saw gains again, offset by declines in certain years like 2007 and 2010. More recently, from 2021 onward, solar energy has seen substantial growth, adding over 6 TWh between 2021 and 2023. The recent decade has indeed shown clear advancements in clean electricity with major annual increases in solar power, demonstrating Chile’s growing expertise and commitment to a sustainable energy future.

Electricity Imports and Exports

Balance of Trade

Data Sources