South and Central America could generate 100 percent of their electricity with renewable resources, a new study finds

By Lisa Friedman, Climatewire, picked up by Scientific American [here] and others

Latin America and the Caribbean could meet 100 percent of their electricity needs with renewable energy, a new Inter-American Development Bank study finds. From Mexico to Chile, countries already are producing higher levels of clean power, but the study notes the region still has a long way to go. Last year just 5.4 percent of the $244 trillion global renewable energy investment went to Latin America. But with Latin America’s economy expected to grow 3 percent annually, the study argues that the region will need to nearly double its installed power capacity to about 600 gigawatts by 2030 at a likely price tag of $430 billion.

The report, “Rethinking Our Energy Future,” will be released today at a Global Green Growth Forum meeting in Bogota, Colombia. It comes amid growing concern among energy experts that the region is not living up to its clean energy potential. (…)

Last week the Worldwatch Institute think tank in Washington, D.C., unveiled a Central America report also showing the region has the resources and the technical capacity to meet all its electricity needs with renewables. But, it argues, governments are undermining their own investments in geothermal, biomass, wind and solar with plans to increase imports of oil, coal and natural gas.

“Central America is at a crossroads,” Alexander Ochs, director of climate and energy at the Worldwatch Institute, said in the study. According to the study, Latin America currently generates about 7 percent of the world’s total electricity production, but demand is skyrocketing as population levels rise and the region’s economy improves. By midcentury, Latin America’s power demand is expected to triple while carbon emissions from the power sector will double. Continue reading »