Electricity in Venezuela in 2021

In 2021, Venezuela's electricity consumption was overwhelmingly dependent on low-carbon sources, particularly hydropower, which supplied almost all of low-carbon output at 67.85 TWh. The remaining power generation was covered by fossil fuels, with a much smaller contribution of 16.01 TWh. This signifies clean energy is the mainstay of Venezuela's electricity generation. While this seems promising, the total energy output, however, compares less favorably on the global scale. With a global average standing at 410 watts/person, the lower levels of electricity generation in Venezuela may impact the country's economic growth and industrial development, highlighting an urgent need for power diversification and greater capacity.

Suggestions

To ramp up low-carbon electricity generation, Venezuela could learn from and adapt successful strategies employed by other countries with similar geographical and climatic conditions. For instance, Brazil's successful utilization of wind energy, generating 94 TWh and India's use of solar power to generate 120 TWh, can serve as useful examples. Also, considering Venezuela's significant hydropower resources, developments in nations like the United States and France could provide valuable insights for nuclear energy as an alternative or augmentation to hydropower, they can generate 775 TWh and 319 TWh respectively.

History

Low-carbon electricity in Venezuela, dominantly focused on hydropower, has seen notable fluctuations over the years. The last decades of the 20th century started recording stable increases, with hydro-generated electricity growing by around 3 to 7 TWh almost every other year from 1985 to 1997. The momentum picked up in the early 21st century, with the peak increase hitting 9.5 TWh in 2004. However, the trend started to shift in 2010, with the first significant decline in hydroelectricity at -9.2 TWh, followed by more frequent declines over the succeeding years. This downward trend in hydropower output suggests the necessity for greater diversification in low-carbon electricity generation sources. The tremendous volatility over the decades underscores the urgency for Venezuela to adapt and invest in other potent low-carbon energy sources like nuclear, wind, and solar.

Electricity Imports and Exports

Balance of Trade

Data Sources