Argentina Wakes Up to the Opportunity of Solar
By: Manan Parikh
Argentina’s run to the Copa Centenario final (as well as the finals loss to Chile) is making headlines across the world. Flying under the radar, however, is solar energy’s improved outlook in the country with the inauguration of President Mauricio Macri last December.
The new head of state replaced several years of the inward-facing Cristina Kirchner government, ushering in a new business-friendly environment that is helping to lure foreign investment to Argentina’s previously stagnant economy, with clean energy being a major beneficiary of this transition to power. Already in the first half of 2016 we have seen a flurry of activity on both the national and state level to incentivize and grow the development of renewables, with countries stepping up their commitments to lower carbon emissions as part of the final agreement with COP 21. Argentina established renewable energy targets for the end of 2017 and 2025, at 8 percent and 20 percent of total energy generation, respectively. Based on demand projections and economic growth, we can expect these targets to correspond to 3 gigawatts of renewables by the end of 2017 and close to 12 gigawatts of renewables by 2025.
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