A commitment to sustainability
Chile continues to consolidate its position as one of the world leaders in renewable energy generation (NCRE), thanks to its advantageous geographical position, climatic conditions and favorable public policies that seek to integrate clean energy and reduce carbon emissions. Solar and wind energy are the fundamental pillars that support this leadership, which contributes to a significant reduction in carbon emissions.
According to figures from the Chilean Association of Renewable Energy and Storage (ACERA), during November 2024, electricity generation from NCRE sources reached 42.4% of the national electricity matrix, an increase of 7% over the same month of the previous year. This growth reflects the firm commitment to integrate more and more clean energy sources into its electricity system. In fact, in 2024, NCRE represented 39.1% of the total participation in the country's energy generation.
Chile leads global solar energy market
These advances place Chile at the global forefront in clean energy generation, with a special focus on solar energy, which in 2024 exceeded 20% of the electricity matrix, according to the Global Electricity Review 2024 of the international think tank Ember. This report places us as the country with the highest share of solar electricity in its matrix, among the world's main markets. Currently, Chile is among the 33 countries with more than 10% of solar electricity generation.
This sustained progress in clean energy generation is also explained by the fact that the commitment to sustainability has been adopted as a State policy that has established ambitious goals to reduce carbon emissions and increase the share of renewable energies. A concrete example is the Framework Law on Climate Change, enacted in 2022, which establishes carbon neutrality by 2050 and the strengthening of a 100% clean electricity system. In addition, the Energy Transition Law, designed to facilitate decarbonization by improving electricity transmission infrastructure, was enacted in December 2024.
Attractive for investment
The growth of the renewable energy sector in Chile has also been an important factor in attracting foreign investment. According to the RECAI 2024 report by the consulting firm EY, which ranks the most attractive markets for investment in renewable energies, there is evidence of an increase in the renewable energy sector at a global level. Chile is ranked 15th worldwide, and stands out for its "political stability, adequate infrastructure and a favorable regulatory framework for the development of clean energy projects".
Chile was also recognized by the World Economic Forum for its good practices in attracting investments in clean energy. In October 2024, the international organization launched the digital platform called "Playbook of Solutions to Mobilize Investment for Clean Energy in the Global South", which highlights 100 success stories of countries that have managed to unlock clean energy investments in emerging and developing markets.
"Over the years, the Chilean renewable energy market has grown substantially, attracting more than 50% of total renewable energy investment in Latin America and the Caribbean in 2015. Chile has consolidated a solid foundation on which to set ambitious targets. In 2021, Chile attracted USD 3.4 billion in renewable investments. The rapid growth of the market positions Chile as a top-tier destination for renewable energy investment," the platform highlights.
Check out more 2024 milestones for Chile in our year-end special.
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