Electricity in Peru in 2023/2024

In the period from August 2023 to July 2024, Peru's electricity consumption showcases a notable division between clean and fossil energy sources. Low-carbon energy, consisting of hydropower, wind, and solar, accounts for more than half of total electricity generation, at 58.37%. The bulk of this comes from hydropower, which alone represents about 50%. Wind and solar energy contribute modestly, with wind generating slightly over 5% and solar just below 2%. On the other hand, fossil energy remains prominent, providing 41.63% of electricity, with nearly all of this coming from gas. The reliance on these traditional fossil sources points towards a significant opportunity for Peru to adopt more sustainable energy practices in future.

Suggestions

To enhance its low-carbon electricity generation, Peru can draw valuable lessons from other countries' experiences. For instance, Uruguay and Denmark have made remarkable strides in wind energy, achieving 36% and 59% of their electricity needs from this source, respectively. These figures highlight the potential wind energy holds for a country like Peru, which boasts diverse climates that could support such developments. Additionally, countries rich in nuclear energy, such as France, where nuclear accounts for an impressive 67% of electricity, demonstrate the viability of nuclear power as a sustainable alternative. By investing in both wind and nuclear energy infrastructure, Peru can diversify its green energy mix and further reduce its dependency on fossil fuels, thereby decreasing environmental impacts like climate change and air pollution.

History

Historically, Peru's journey towards low-carbon electricity generation has seen significant evolution. Starting in the early 1980s, hydropower rose steadily, with increments in generation noted in 1981 and multiple years throughout the 1990s and early 2000s. A considerable increase was observed in 2017, marking the largest year-on-year growth in hydropower. However, fluctuations have occasionally occurred as well, with declines in 1992, 2004, and more recently in 2023/2024. Complementary to hydropower, wind energy began contributing more significantly to Peru's electricity from 2023/2024, evidenced by a yearly increase. This historical context illustrates Peru's ongoing efforts to expand its clean energy capacities, underscoring the potential for further growth in low-carbon electricity generation as the nation moves forward.

Electricity Imports and Exports

Balance of Trade

Data Sources