Electricity in Colombia in 2023/2024

Over the past 12 months, spanning from November 2023 to October 2024, Colombia's electricity generation has displayed a strong emphasis on low-carbon energy sources, which constitute approximately 63% of the total electricity supply. Within this category, hydropower is the dominant contributor, accounting for nearly 57% of the electricity generation. Solar and biofuels contribute modestly, with solar energy just over 3% and biofuels around 2.3%. Meanwhile, fossil fuels are responsible for about 37% of Colombia's electricity mix. Natural gas is the leading fossil source, providing roughly 19%, followed by coal at 14.5%, and oil accounting for a little over 3.5%. This distribution underscores Colombia's reliance on clean energy, largely through hydropower, while fossil fuels still maintain a significant presence.

Suggestions

Colombia has the potential to bolster its low-carbon electricity generation by exploring more sustainable alternatives like solar, wind, and possibly nuclear energy. Learning from countries with a strong commitment to these sources can provide useful insights. For instance, Uruguay, a country with similarities to Colombia, generates about a third of its electricity from wind, demonstrating how a robust focus on expanding wind infrastructure can be fruitful. Similarly, Chile harnesses solar energy for 22% of its electricity needs, a notable achievement in leveraging solar power that Colombia could emulate. Furthermore, embracing nuclear energy, akin to France's model with a substantial 68% share, could be pivotal. These examples illustrate the diverse pathways available for expanding Colombia’s clean energy portfolio beyond its current hydropower focus.

History

Historically, Colombia's journey with low-carbon electricity has been notably dynamic, especially in the realm of hydropower. In the late 1980s and early 1990s, there were fluctuations, such as a significant decline of 5.4 TWh in 1992 followed by substantial increases in subsequent years. The early 2000s saw continued growth, particularly a noteworthy rise of 3.9 TWh in 2004. However, the most significant expansion occurred in 2017 with an impressive increase of 13 TWh. More recently, in the early 2020s, hydropower generation experienced volatility, marked by considerable increases, such as 12.3 TWh in 2021, juxtaposed with notable declines in subsequent years. These patterns reveal a cyclic nature in Colombia's hydropower generation, emphasizing the need for continuous adaptation and diversification of low-carbon electricity sources to ensure a stable and sustainable energy future.

Electricity Imports and Exports

Balance of Trade

Data Sources