In 2023, the electricity consumption in Venezuela is characterized by a predominant reliance on low-carbon sources. Low-carbon energy constitutes over three-quarters of the total electricity consumption, with hydropower being the main contributor at almost the same percentage. On the other hand, fossil fuels account for a little more than one-fifth of the total electricity generated in the country, with gas representing the majority of this share. The heavy reliance on hydropower for low-carbon electricity demonstrates Venezuela's commitment to clean energy, though the absence of variety in clean energy sources like nuclear or solar energy points to an opportunity for the country to diversify and strengthen its sustainability strategy.
Is Electricity Growing in Venezuela?
Unfortunately, electricity consumption has seen a notable decline in Venezuela over recent years. The latest figures for 2023 show electricity consumption at 2931 kWh/person, a decrease of approximately 1400 kWh/person from the peak observed in 2014. Low-carbon electricity generation is also witnessing a diminishing trend; present output is nearly 800 kWh/person below the historical record set in 2008. This downward trajectory suggests a reduction in electricity availability, which can hamper economic development and the quality of life. Restoring growth in electricity consumption, especially from low-carbon sources, is crucial to supporting Venezuela's future electrification and development goals.
Suggestions
To enhance low-carbon electricity generation, Venezuela can take cues from regions excelling in specific clean energy types. Countries like France and Slovakia showcase successful integration of nuclear energy, which contributes to more than two-thirds of their electricity generation. On the solar front, Lebanon and Chile demonstrate substantial incorporation of solar energy into their electricity mix. Wind power successes can be observed in Denmark and Uruguay. By adopting policies and technologies aligned with these regions, Venezuela could strengthen its energy diversity and resilience. Emphasizing the development of nuclear and solar power plants, along with continued optimization of hydropower, offers Venezuela a pathway to increase its clean electricity share and secure long-term energy stability.
History
Historically, Venezuela's low-carbon electricity has predominantly been fueled by hydropower, especially from the mid-1980s to the early 2000s, witnessing significant growth in several years with increases like 3 to 5 TWh. However, the nation faced considerable challenges in the following decades, with hydropower generation experiencing significant declines, notably in 2010, 2015, and 2016. These periods of reduction were interspersed with periods of recovery, most notably with a substantial increase in 2020. The fluctuating nature of hydropower highlights the importance of diversifying into other low-carbon electricity sources to achieve a more stable and reliable electricity supply for the nation. Expanding the energy mix to include significant nuclear and solar contributions will help safeguard Venezuela from the vulnerabilities associated with reliance on a single source.
Electrification
We estimate the degree of electrification by comparing electricity and total energy emissions. More about methodology.