Chile to consider 100% renewables by 2050
Chile will consider increasing its 2050 renewable energy target to 100 per cent, according to local reports on Wednesday 31 May.
Chile’s current target is to increase renewable energy sources’ share of the country’s power mix to 70 per cent by 2050.
The South American nation will now consider raising this target to 100 per cent thanks to the falling cost of renewable energy and anticipated improvements in energy storage.
Andres Romero, Executive Secretary of the National Energy Commission (CNE), told Chile’s Diario Financiero that Chile will analyse whether the country should lift their current target to 100 per cent over the next two years.
According to Bloomberg New Energy Finance (BNEF), renewables – excluding large hydro –accounted for around 12 per cent of Chile's energy generation in 2016, with large hydroelectric plants accounting for further 24 per cent.
The nation has significant potential for a number of renewable energy technologies, including solar, wind and hydropower.
According to reports, Chile is also aiming to considerable lessen its reliance on conventional fuel imports.
Romero stated that Chile is on track to reach its interim target of 20 per cent renewable energy by 2025 five years ahead of schedule.
To receive similar updates, sign up to our free newsletter here.