Electricity in Peru in 2023/2024

Over the past year, from August 2023 to July 2024, Peru has shown a promising trend in its electricity generation. More than half (about 58%) of the electricity generated in Peru comes from low-carbon sources, highlighting a strong commitment to clean energy. Breaking it down further, around 50% of the total electricity is generated by hydropower, a significant clean energy contributor. Wind and solar energy also play roles, contributing roughly 5.5% and 2%, respectively. However, there remains a substantial reliance on fossil fuels, which account for almost 42% of the total electricity generation, with the majority of this coming from gas at approximately 41%.

Suggestions

To further increase its low-carbon electricity generation, Peru can look to successful strategies employed by other nations. For instance, Denmark, which generates about 61% of its electricity from wind, illustrates the potentials of expanding wind energy. Uruguay, with 36% of its electricity sourced from wind, presents another close example with similar regional attributes. Implementing similar wind power investment strategies could significantly boost Peru's clean energy portfolio. Additionally, integrating nuclear energy, as exemplified by France where 67% of electricity comes from nuclear, could provide a stable and substantial increase in low-carbon electricity generation for Peru. Learning from these nations, Peru can effectively reduce its dependence on fossil fuels and boost its clean energy endeavors.

History

Historically, Peru has made significant strides in hydroelectric power, particularly noticeable in periodic increases in generation. During the early '80s and '90s, the nation saw considerable progress, with notable hikes in hydropower generation in 1981, 1987, 1991, 1993, and 1994. The latter part of the 20th century continued this trend, with increments in 1999, 2000, 2001, and 2006. While there was a dip in 2004, the early 21st century saw more stability and growth, particularly in 2011, 2013, and 2015. A significant leap occurred in 2017 with a 4.9 TWh increase, showing Peru's ongoing commitment to hydropower infrastructure. More recently, the contribution of wind energy has begun to rise, as indicated by an increase of 1 TWh in the last recorded period of 2023/2024, signaling a broader diversification of its low-carbon energy sources. A slight negative shift in hydro generation in the same period suggests the need for balanced investments across various low-carbon technologies.

Electricity Imports and Exports

Balance of Trade

Data Sources