Latin America''s energy storage to reach 23 GW by
Led by Chile and dominated by utility-scale projects, Latin America''s energy storage market is projected to grow at an average annual rate of 8 % through 2034.
It will also be a key enabler of mass decarbonization and climate change mitigation, facilitating the expansion of variable renewable energy sources such as wind and solar while ensuring grid security. However, energy storage deployment in Latin America and the Caribbean (LAC) is still nascent.
Panama made history with its 2024 tender for 500 MW of renewables plus storage, aiming for 120–150 MW of BESS deployment. This represents the first market-based approach to energy storage in Central America, potentially serving as a model for the region.
Local developers like Quartux and ON Energy have installed dozens of MWh of behind-the-meter batteries at hotels, resorts, and factories in tourist regions like Cancún – A 25 MWh C&I battery by Quartux in Cancún is cited as the largest C&I installation in Latin America.
Chile remains the regional leader in battery storage, thanks to a combination of ambitious renewable targe (60% renewable share of all energy use by 2030), advanced regulatory frameworks, and successful project execution. Some of Chile's market highlights include:
Led by Chile and dominated by utility-scale projects, Latin America''s energy storage market is projected to grow at an average annual rate of 8 % through 2034.
A new report forecasts that Chile will lead the region in energy storage capacity, followed by Mexico and the Dominican Republic – driven by supportive regulatory frameworks and the growing
Energy Distributed energy is driving Latin America''s energy transition Consumers have become a central player in the region''s transition by generating their own clean energy and even selling it on the market
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The Latin America Energy Storage Outlook 2025 explores the Latin American energy storage market across the utility-scale, C&I, and residential segments. This first release includes an overview of the
However, energy storage deployment in Latin America and the Caribbean (LAC) is still nascent. This publication examines the current and potential future roles for various energy storage technologies in
The Latin American region will see a compound annual growth rate of 8% for its energy storage market through 2034, reaching a total of 23 gigawatts (GW), according to Wood Mackenzie''s Latin
The Road Ahead: Storage Meets Culture From Bolivia''s salt flats (a lithium treasure trove) to Carnival-themed battery farms in Rio, Latin America is blending tradition with tech. And with 200 GW of
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John PriceManaging DirectorAMI Valentina MenesesEnergy Practice Co-DirectorAMI Latin America is entering a transformative decade in its energy landscape, driven by the urgent need to expand
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