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Chile Solar Photovoltaics Market Size, Share, Trends, Growth: By Type: Thin film, Multi-Si, Mono-Si; By Deployment: Rooftop Solar, Ground-mounted; By Connectivity: On-grid, Off-grid; By End Use: Residential, Commercial, Utility; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Chile Solar Photovoltaics Market Outlook
The Chile solar photovoltaics market size is projected to expand at a CAGR of 8.20% between 2024 and 2032.
Key Takeaways
- 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.
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.
Market Segmentation
Chile Solar Photovoltaics Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Thin film
- Multi-Si
- Mono-Si
Market Breakup by Deployment
- Rooftop Solar
- Ground-mounted
Market Breakup by Connectivity
- On-grid
- Off-grid
Market Breakup by End Use
- Residential
- Commercial
- Utility
Competitive Landscape
The market participants are increasing their collaborations and partnerships to implement effective solar photovoltaic technologies and support sustainable development.
- Mainstream Renewable Power Limited
- Enel S.p.A.
- Sonnedix Power Holdings Limited
- Sociedad Abengoa S.L.
- Urrejola Ingenieros SpA
- ZNSHINE PV-TECH Co., Ltd.
- SunRoof
- 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:
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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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*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 Market 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 Latin America Solar Photovoltaics Market Overview
8.1 Key Industry Highlights
8.2 Latin America Solar Photovoltaics Historical Market (2018-2023)
8.3 Latin America Solar Photovoltaics Market Forecast (2024-2032)
8.4 Latin America Solar Photovoltaics Market Share by Country
8.4.1 Brazil
8.4.2 Mexico
8.4.3 Argentina
8.4.4 Chile
8.4.5 Others
9 Chile Solar Photovoltaics Market Overview
9.1 Key Industry Highlights
9.2 Chile Solar Photovoltaics Historical Market (2018-2023)
9.3 Chile Solar Photovoltaics Market Forecast (2024-2032)
10 Chile Solar Photovoltaics Market by Type
10.1 Thin film
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Multi-Si
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Mono-Si
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 Chile Solar Photovoltaics Market by Deployment
11.1 Rooftop Solar
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Ground-mounted
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Chile Solar Photovoltaics Market by Connectivity
12.1 On-grid
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Off-grid
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 Chile Solar Photovoltaics Market by End Use
13.1 Residential
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Commercial
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Utility
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyers Powers
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Mainstream Renewable Power Limited
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Enel S.p.A.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Sonnedix Power Holdings Limited
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Sociedad Abengoa S.L.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Urrejola Ingenieros SpA
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 ZNSHINE PV-TECH Co., Ltd.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 SunRoof
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Solar Photovoltaics Market: Key Industry Highlights, 2018 and 2032
2. Chile Solar Photovoltaics Market: Key Industry Highlights, 2018 and 2032
3. Chile Solar Photovoltaics Historical Market: Breakup by Type (USD Million), 2018-2023
4. Chile Solar Photovoltaics Market Forecast: Breakup by Type (USD Million), 2024-2032
5. Chile Solar Photovoltaics Historical Market: Breakup by Deployment (USD Million), 2018-2023
6. Chile Solar Photovoltaics Market Forecast: Breakup by Deployment (USD Million), 2024-2032
7. Chile Solar Photovoltaics Historical Market: Breakup by Connectivity (USD Million), 2018-2023
8. Chile Solar Photovoltaics Market Forecast: Breakup by Connectivity (USD Million), 2024-2032
9. Chile Solar Photovoltaics Historical Market: Breakup by End Use (USD Million), 2018-2023
10. Chile Solar Photovoltaics Market Forecast: Breakup by End Use (USD Million), 2024-2032
11. Chile Solar Photovoltaics Market Structure
Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 8.20% between 2024 and 2032.
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.
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