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Chile Renewable Energy Market Size, Share, Growth, Forecast: By Type: Hydropower, Wind, Solar, Others; By End Use: Residential, Commercial, Industrial; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Chile Renewable Energy Market Outlook
The Chile renewable energy market size is projected to grow at a CAGR of 15.3% between 2024 and 2032.
Key Takeaways
- Chile has set forth ambitious goals in terms of climate change. By 2030, the country aims to derive 70 percent of its electricity from renewable sources, and by 2050, Chile is determined to achieve carbon neutrality.
- In December 2021, the Chilean government committed $50 million in financing for six initiatives designed to promote the development of the country's green hydrogen sector, aiming to be the cheapest provider of the alternative fuel globally.
- Chile aims to reach 95 MtCO2eq in GHG emissions by 2030, with emissions peaking in 2025. This represents a 15% decrease from the 2018 level of 112 MtCO2eq.
The Chile renewable energy market growth is primarily fuelled by the rising consciousness regarding climate change and the limitations of traditional energy sources like coal, oil, and natural gas. The market is further propelled by the mounting pressure on different sectors to enhance their production capabilities to adapt to evolving market needs, adhere to stringent environmental policies, and stimulate economic progress. Additionally, the growing environmental concerns among the populace and the concerted efforts of governments to curb carbon emissions play a pivotal role in driving the growth of the renewable energy market in Chile.
As per the Chile renewable energy market analysis, during the forecast period, the utilisation of solar photovoltaic panels for residential purposes is anticipated to drive the demand. In addition, commercial photovoltaic solar panels have the potential to power industrial structures in remote or isolated areas, preheat ventilation air, and supply hot water in various settings including offices and industries.
The rising installation of solar energy systems in the country is expected to create profitable opportunities for the market expansion in the future. Solar energy is not only more sustainable but also more cost-effective compared to conventional energy sources. The decreasing costs of solar cells, the advancements in solar technology, and the establishment of new solar power plants are all playing a crucial role in accelerating the Chile renewable energy market development.
Market Segmentation
Chile Renewable Energy Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Hydropower
- Wind
- Solar
- Others
Market Breakup by End Use
- Residential
- Commercial
- Industrial
Competitive Landscape
The market players are increasingly prioritising the development of cost-effective renewable energy systems to accelerate the transition towards a clean energy future.
- Mainstream Renewable Power
- Enel Green Power
- Acciona, SA
- First Solar, Inc.
- Statkraft
- Blue Light Energy
- Ingenostrum S.L
- Atlas Renewable Energy
- Innergex Renewable Energy Inc.
- Solcor Chile
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by End Use |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Chile Renewable Energy Market Overview
8.1 Key Industry Highlights
8.2 Chile Renewable Energy Historical Market (2018-2023)
8.3 Chile Renewable Energy Market Forecast (2024-2032)
9 Chile Renewable Energy Market by Type
9.1 Hydropower
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Wind
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Solar
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.4 Others
10 Chile Renewable Energy Market by End Use
10.1 Residential
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Commercial
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Industrial
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter’s Five Forces Analysis
11.2.1 Supplier’s Power
11.2.2 Buyer’s Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators for Demand
11.4 Key Indicators for Price
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Mainstream Renewable Power
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Enel Green Power
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Acciona, SA
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 First Solar, Inc.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Statkraft
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Blue Light Energy
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Ingenostrum S.L
12.2.7.1 Company Overview
12.2.7.2 Product Portfolio
12.2.7.3 Demographic Reach and Achievements
12.2.7.4 Certifications
12.2.8 Atlas Renewable Energy
12.2.8.1 Company Overview
12.2.8.2 Product Portfolio
12.2.8.3 Demographic Reach and Achievements
12.2.8.4 Certifications
12.2.9 Innergex Renewable Energy Inc.
12.2.9.1 Company Overview
12.2.9.2 Product Portfolio
12.2.9.3 Demographic Reach and Achievements
12.2.9.4 Certifications
12.2.10 Solcor Chile
12.2.10.1 Company Overview
12.2.10.2 Product Portfolio
12.2.10.3 Demographic Reach and Achievements
12.2.10.4 Certifications
12.2.11 Others
13 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Chile Renewable Energy Market: Key Industry Highlights, 2018 and 2032
2. Chile Renewable Energy Historical Market: Breakup by Type (USD Million), 2018-2023
3. Chile Renewable Energy Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Chile Renewable Energy Historical Market: Breakup by End Use (USD Million), 2018-2023
5. Chile Renewable Energy Market Forecast: Breakup by End Use (USD Million), 2024-2032
6. Chile Renewable Energy Market Structure
Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 15.3% between 2024 and 2032.
The market is driven by the increasing energy demands, growing environmental concerns, and favourable government policies.
The growing installation of solar energy systems and the government's initiatives to utilise domestic resources for energy generation and ambitious net zero emission targets are the notable market trends.
The major types of renewable energy systems are hydropower, wind, and solar, among others.
The major end users are residential, commercial, and industrial.
The major players in the market are Mainstream Renewable Power, Enel Green Power, Acciona, SA, First Solar, Inc., Statkraft, Blue Light Energy, Ingenostrum S.L, Atlas Renewable Energy, Innergex Renewable Energy Inc., and Solcor Chile, among others.
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