Chile has been an oil import-dependent country for more than 50 years, but now is in the midst of an energy transition away from fossil fuels to a new order. Green energy is gaining momentum and a new picture of the energy matrix is emerging.
Today in Chile, renewable electricity from solar and wind power represents nearly 20 percent of the country’s energy supply, and the volume of renewables is expected to increase every year. This shift has involved some risks. But more than 10 years ago, Chile took some legal steps to foster renewable energy, building the foundation for optimism about the country’s energy future.
Most notably, in the past electricity prices were driven by a few big actors with very little competition. In contrast, Chile’s energy future will be determined by many competitors and gradual efficiency gains.
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