Latin America is becoming an influential force in solar as developers throughout the region push prices downward.
Recent electric power auctions in Argentina, Chile and Mexico resulted in record-low bids for solar, ranging from $29 per megawatt-hour to $41 per megawatt-hour.
So what do the success of these auctions say about the health of each country’s solar market?
Mexico’s second auction in September assigned power generation contracts and clean energy certificates to 23 firms and consortiums from 11 countries. The projects are expected to add 2.87 gigawatts to the country’s installed capacity and rake in an estimated $4 billion in investment, according to the country’s energy control center, Cenace, the regulatory body created out of the 2014 energy reform.
The average price per megawatt achieved was $33.40, 30 percent below the price obtained in the March 30 auction.
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