Electricity in Peru in 2023/2024

Over the past year, from November 2023 to October 2024, Peru's electricity consumption relied more than half on low-carbon energy, accounting for approximately 60% of the total. Most of this clean energy came from hydropower, which alone made up around 51% of the electricity generation, and additional contributions came from wind and solar power, with wind providing just over 6% and solar contributing about 2%. In contrast, almost 40% of the electricity was generated using fossil fuels, primarily from gas, which accounted for nearly all of the fossil fuel-based generation. This reliance on fossil fuels highlights the ongoing challenge for Peru as it seeks to transition to a more sustainable and cleaner energy system.

Suggestions

To further increase its low-carbon electricity generation, Peru can draw inspiration from other countries that have successfully integrated green energy sources into their systems. For instance, Denmark has achieved nearly 60% of its electricity from wind power, a model that Peru can emulate by expanding its wind capabilities, particularly in regions with favorable conditions such as coastal areas. Likewise, Chile's success in harnessing solar energy, reaching about 22%, suggests that Peru could tap into its solar potential, especially in its sun-rich regions. Furthermore, considering the global success of nuclear energy in countries like France, Slovakia, and Ukraine, which generate significant portions of their electricity with this reliable low-carbon source, Peru could explore the feasibility of incorporating nuclear power into its energy mix for a substantial reduction in emissions and a more diversified energy portfolio.

History

Historically, Peru has seen varying growth in its low-carbon electricity generation, particularly from hydropower, which experienced notable fluctuations over the years. In the 1980s and early 1990s, there were overall incremental increases, with years like 1981 and 1993 seeing boosts of 1 TWh and 2.1 TWh, respectively. However, in 1992, a significant reduction of 1.8 TWh was observed. The 2000s and 2010s showed more stability and periodic growth, with increases such as 1.6 TWh in 2000 and 4.9 TWh in 2017. Nevertheless, the progress hasn't been entirely linear, with occasional declines like the 0.9 TWh reduction in 2020 and a decrease of 1 TWh in 2024. Alongside hydro, wind energy started showing gains in 2024 with an increase of 1.5 TWh, marking a new chapter in diversifying Peru’s clean energy resources.

Electricity Imports and Exports

Balance of Trade

Data Sources