Market Size of Chile Renewable Energy Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 9.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Chile Renewable Energy Market Analysis
The Chile Renewable Energy Market is expected to register a CAGR of more than 9% during the forecast period.
The market was negatively impacted by COVID-19. Presently the market has now reached pre-pandemic levels.
- During the last decade, the government has started emphasizing ways to capitalize on other domestic resources, namely strong coastal winds, strong solar irradiation, and tectonic plate conditions that have made geothermal power generation viable in some areas. Additionally, the declining cost of solar modules and wind turbines is expected to drive the market.
- However, technological limitation such as strong dependence on prevailing weather conditions is likely to restrain the market's growth over the forecast period.
- The government's effort to reduce carbon emissions by shutting down thermal power generation sources and increasing renewable generation is likely to provide an opportunity for market growth.
