The Chile solar photovoltaics market size is projected to expand at a CAGR of 8.20% between 2026 and 2035.
Base Year
Historical Period
Forecast Period
The Luz del Norte project, situated 58 km northeast of Copiapó, Chile, covers an extensive area of 478 hectares, making it the largest photovoltaic (PV) solar power plant in Latin America.
Chile has established an ambitious goal of transitioning 70% of its energy consumption to renewable sources by 2030, while also committing to achieving carbon neutrality by 2050.
As of February 2024, the Environmental Evaluation Service (SEA) included 81 projects from different economic sectors of the country. Among them, 20 are solar panel electricity generation plants, with a combined estimated investment of US$2,023 million.
Compound Annual Growth Rate
8.2%
2026-2035
*this image is indicative*
The market is experiencing robust expansion as a result of the rising adoption of renewable energy to fulfil the escalating electricity demands and the government's increased investment in sustainable energy technology. The country's favourable geographical position ensures an ample supply of solar resources, ensuring a consistent and dependable source of sunlight for solar energy production. The nation's commitment to environment protection and endeavours to combat climate change are positively influencing the market. With an increasing awareness of the detrimental effects of conventional energy sources on the environment, Chileans are increasingly embracing cleaner alternatives, consequently driving up the Chile solar photovoltaics market share.
The increasing need for rooftop solar photovoltaic (PV) systems in both residential and commercial areas is fuelling the expansion of the market. Homeowners in the residential sector are more interested in rooftop solar installations to lower electricity expenses and attain energy self-sufficiency, leading to significant long-term savings. Likewise, businesses in the commercial sector are acknowledging the financial and environmental advantages of rooftop solar PV systems, favouring the Chile solar photovoltaics market growth.
Furthermore, the market is expected to benefit from increasing collaborations and partnerships among organisations seeking to support sustainable development. For instance, in February 2024, Enel O'Higgins completed a solar energy project for Geofrut, a prominent regional entity, showcasing their commitment to sustainable energy solutions. This initiative, specifically designed for self-consumption, incorporates 683 state-of-the-art solar panels, each with an impressive output of 575 Wp.
"Chile Solar Photovoltaics Market Report and Forecast 2026-2035" offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Deployment
Market Breakup by Connectivity
Market Breakup by End Use
The market participants are increasing their collaborations and partnerships to implement effective solar photovoltaic technologies and support sustainable development.
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The market is estimated to grow at a CAGR of 8.20% between 2026 and 2035.
The major market drivers include the increasing affordability of solar PVs and other solar components and the favourable geographical location that allows for optimal solar energy generation.
The key trends aiding the market expansion include the increasing popularity of rooftop solar PVs, the Chilean government's support to promote renewable energy generation, including solar power, and the rapid technological improvements.
The different types of solar photovoltaics are thin film, multi-Si, and mono-Si.
The major end uses, according to the market report are residential, commercial, and utility.
The major players in the market are Mainstream Renewable Power Limited, Enel S.p.A., Sonnedix Power Holdings Limited, Sociedad Abengoa S.L., Urrejola Ingenieros SpA, ZNSHINE PV-TECH Co., Ltd., and SunRoof, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Deployment |
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| Breakup by Connectivity |
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| Breakup by End Use |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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