Electricity in Chile in 2024

As of 2024, Chile's electricity consumption shows a promising tilt towards clean energy sources, with more than two-thirds of its electricity being generated from low-carbon sources. Hydropower stands at about 30%, making it a significant part of Chile's clean electricity portfolio. Solar power contributes just over 22%, showcasing Chile's strong focus on harnessing solar energy. Wind energy also plays a substantial role, contributing nearly 12% of the total electricity. Biofuels add nearly 6% to the low-carbon mix. On the other hand, fossil fuel sources still account for around 30% of electricity generation, with coal being the largest contributor at roughly 16%, followed by gas at close to 14%. Chile's emphasis on sustainable electricity is evident, yet there is room for further advancements by reducing reliance on fossil fuels to mitigate climate change and air pollution.

Suggestions

To enhance its low-carbon electricity generation, Chile could focus on expanding existing technologies like wind and solar, which already play significant roles in its energy mix. Denmark serves as an exemplary model for maximizing wind energy, achieving more than half of its electricity from wind power. Additionally, looking at France, where nearly 70% of electricity is generated from nuclear, Chile could also consider embracing nuclear power as a reliable, low-carbon solution. Countries like Uruguay also offer insights, as close geographical and climatic conditions allow them to harness wind energy effectively. By learning from these examples and investing in further development and innovation within solar and wind sectors, Chile could reduce its carbon footprint even more significantly.

History

Chile's history in low-carbon electricity generation has seen various developments. In the 1990s, hydropower experienced a notable expansion, particularly during the early years, indicating its importance as a low-carbon resource. However, there were also several setbacks, especially around the late 1990s and late 2000s, when hydropower generation saw significant declines. Notably, in 2010, there was a decrease in both hydropower and biofuels. The past few years have witnessed positive developments, especially since 2021, when solar power saw a substantial increase, with generation climbing steadily ever since. Wind energy also received a boost in 2021. Recent increases in hydropower and solar in 2023 and 2024 reflect Chile's ongoing commitment to strengthening its clean electricity portfolio. These trends provide a positive outlook for the continued growth of low-carbon energy in the country.

Electricity Imports and Exports

Balance of Trade

Data Sources